CHINA REBAR: Buyers turn cautious ahead of SHFE limit changes

China's domestic rebar prices lost upward momentum on Wednesday November 18, reflecting losses in futures ahead of the revision of regulations on the Shanghai Futures Exchange (SHFE) relating to limits on price fluctuations.

Domestic
Eastern China (Shanghai): 4,130-4,160 yuan ($629-634) per tonne, unchanged
The SHFE will lower the fluctuation limit on its rebar contracts to 5% from 6% previously from November 20, which market participants regard as a tool to curb extreme changes in prices.

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