CHINA REBAR: Prices rally on RRR cut, but outlook remains pessimistic

China's domestic rebar prices increased sharply on Monday July 12 following news that the People's Bank of China will cut the reserve ratio requirement (RRR) by 0.5 percentage points from July 15.

Domestic
Eastern China (Shanghai): 5,150-5,200 yuan ($796-803) per tonne, up by 130-150 yuan per tonne

The news that the RRR will be cut pushed rebar futures prices as high as 5,532 yuan per tonne on Monday, with spot market sellers following suit....

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