Rebar contracts on the Shanghai Futures Exchange increased on Tuesday November 12 following two notices about winter production restrictions in the Fenwei Plain and Yangtze River Delta regions, but spot prices were unchanged.
Eastern China (Shanghai): 3,700-3,740 yuan ($528-534) per tonne, unchangedNorthern China (Beijing): 3,630-3,650 yuan per tonne, unchangedRestrictions on production have been imposed in the regions of the Fenwei Plain and the Yangtze River Delta in order to control air pollution. The Fenwei Plain, which covers part of Shanxi province, Shaanxi province and Henan province, is aiming to reduce PM2.5 levels by 3%. Shanxi province is carrying out modifications to steelmaking facilities to achieve ultra-low emission levels...