CHINA REBAR: High ex-works prices keep market supported

China's domestic rebar market was flat on Monday June 22 despite falling futures, with mills' high ex-works prices keeping it supported.

Domestic
Eastern China (Shanghai): 3,580-3,610 yuan ($506-510) per tonne, unchanged
Shagang, a major rebar producer in eastern China, rolled over its list price of 3,850 yuan per tonne for HRB400 F16-25mm rebar ordered during the June 21-30 period.

This is 240-270 yuan per tonne higher than spot prices, which supported the latter even though demand was not...

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