China's domestic rebar prices picked up on Thursday July 29 following futures gains on expectations of tight supply caused by a new power pricing method, sources told Fastmarkets.
Domestic
Eastern China (Shanghai): 5,300-5,330 yuan ($820-825) per tonne, up by 30 yuan per tonne
The National Development and Reform Commission now requires local governments to change peak-valley power prices for industrial companies, according to a notice released on July 29.
Local governments need to raise power prices at...