CHINA REBAR: Domestic prices surge to 2-year highs
November 18, 2020 / www.metalbulletin.com / Article Link
China's domestic rebar prices moved up further on Tuesday November 17 on strong demand to reach their highest since November 2018.
Domestic Eastern China (Shanghai): 4,130-4,160 yuan ($627-632) per tonne, up by 50 yuan per tonne Buyers raised their procurement rates amid a strengthening futures market during the day, which pushed up rebar prices.
Sellers' rebar stock is also decreasing on good end-user demand, which encourages the former to...