China's domestic rebar prices moved up on Thursday February 25 on rising futures though demand was weaker due to adverse weather.
Domestic
Eastern China (Shanghai): 4,620-4,650 yuan ($716-721) per tonne, up by 20-30 yuan per tonne
Rebar futures rose during the day on market participants' bullish outlook for demand in spring. Spot rebar prices followed suit.
But bad weather is currently putting pressure on spot demand and affecting the transportation of cargoes.
A cold wave from Xinjiang has...