Eastern China rebar prices rose sharply on Wednesday November 20 on tight supply and strong demand, factors that were expected to push up prices still further for the rest of the month.
Eastern China (Shanghai): 4,080-4,120 yuan ($580-586) per tonne, up 100 yuan per tonne Northern China (Beijing): 3,760-3,790 yuan per tonne, up 20 yuan per tonne"The prices were low and sentiment was bearish in late October, so traders didn't build up large inventories as they have usually done in previous years, causing low inventories now," a trader in eastern China said. Meanwhile, end-user demand has been stronger over the past two or three...