China's domestic rebar prices moved up on Tuesday April 30 amid expectations that local authorities in the steelmaking hub of Tangshan would implement a fresh round of production curbs in May.
Domestic Eastern China (Shanghai): 4,090-4,140 yuan ($607-615) per tonne, up 40 yuan per tonneNorthern China (Beijing): 3,990-4,030 yuan per tonne, up 30-40 yuan per tonneNews that local authorities in Tangshan could impose steelmaking restrictions in May to improve air quality began circulating late on Monday, which gave rebar futures a boost during the evening's trading session, sources said.Spot rebar prices rose accordingly on Tuesday despite relatively weak demand ahead of the...