China's domestic rebar market regained some upward momentum on Thursday March 21 after mills announced higher ex-works prices, while a drop in spot supply and early-hour futures gains provided additional support.
Domestic Eastern China (Shanghai): 3,890-3,920 yuan ($580-585) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,860-3,890 yuan per tonne, narrowed up by 10 yuan per tonneRebar futures rose in the early trading hours after Vale issued a warning over a possible 10-million-tonnes-per-year disruption to its iron ore production and news emerged about a severe tropical cyclone affecting exports of the steelmaking raw material from Australia's Port Hedland.Meanwhile, steelmakers...