China's rebar prices moved up in both the domestic and export markets on Monday June 8 amid rising concerns over iron ore supply from Brazil's Vale.
Domestic
Eastern China (Shanghai): 3,630-3,660 yuan ($512-516) per tonne, up by 30 yuan per tonne
Spot rebar prices built on the early-hour gains of rebar and iron ore futures in response to news of Vale's Itabira mining operations being suspended toward the end of last week. Despite the suspension, the miner
is maintaining its iron ore guidance for this year.
But demand for rebar is weakening due to either high summer temperatures...