China's domestic rebar prices increased on Tuesday July 21 on market participants' expectations of a drop in production.
Domestic
Eastern China (Shanghai): 3,580-3,600 yuan ($512-515) per tonne, up by 10-20 yuan per tonne
Several rebar producers that operate electric-arc furnaces are either planning to perform maintenance or have already started doing so amid high prices for steel scrap, in an effort to cut losses, an industry analyst in Shanghai said.
Fastmarkets' weekly assessment for steel scrap heavy scrap domestic, delivered mill China was 2,640-2,700 yuan per tonne on July 17, up by 40-60 yuan per tonne...