China's rebar prices rebounded on Tuesday June 11 after Beijing urged local governments to issue special bonds to support economic growth and maintain a reasonable level of liquidity in the market.
Domestic Eastern China (Shanghai): 3,900-3,940 yuan ($563-569) per tonne, up 30-40 yuan per tonneNorthern China (Beijing): 3,800-3,860 yuan per tonne, widened upward by 20 yuan per tonneThe State Council, in a statement issued late on Monday, encouraged local authorities to use special bonds and "other market-based financing methods" to fund the development of key regions and major projects. A Shanghai-based industry research house said it was expecting infrastructure investment to grow by more than 10% this year in response to the...