CHINA REBAR: Domestic prices hit two-year high

China's domestic rebar prices surged further on Monday December 21 to their highest in 25 months on strong gains in the futures and billet markets.

Domestic
Eastern China (Shanghai): 4,580-4,600 yuan ($700-704) per tonne, up by 240-250 yuan per tonne
The price of billet increased by 160 yuan per tonne during the weekend to 3,880 yuan per tonne before gaining another 120 yuan per tonne on Monday to reach 4,000 yuan per tonne - its highest in two years.

Restocking by billet buyers pushed up the product's prices during the weekend. Ferrous futures' gains stimulated the price further on Monday....

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