China's rebar prices bounced back on Tuesday March 3 in both the domestic and export markets amid optimism for a strengthening of demand in the local market.
Eastern China (Shanghai): 3,400-3,440 yuan ($488-494) per tonne, up 40-50 yuan per tonne
Northern China (Beijing): 3,300-3,330 yuan per tonne, up 40 yuan per tonne
Rebar futures had a bullish start to the day, rising to as high as 3,466 yuan per tonne following significant gains registered by infrastructure-related stocks on Monday, which in turn had responded to a bigger issuance of local government bonds, sources said.
Local governments...