China's domestic rebar price moved up on Friday October 9, with market participants returning from a week-long holiday to celebrate the country's National Day.
Domestic
Eastern China (Shanghai): 3,670-3,700 yuan ($540-545) per tonne, up by 40 yuan per tonne
Northern China (Beijing) weekly assessment: 3,630-3,680 yuan per tonne, up by 60-90 yuan per tonne
Demand for rebar strengthened in the past eight days while most of the country was on holiday.
The construction sector, which continued to operate during the period, during which the weather was mild, stepped up their procurement rates during the day to replenish their inventories.
A few...