CHINA REBAR: Prices rise on news of cut to China's required reserve ratio

China's domestic rebar prices increased on Friday March 13 on futures gains driven by market participant optimism over the news of a reduction in the central bank's required reserve ratio.

Eastern China (Shanghai): 3,450-3,480 yuan ($494-498) per tonne, up 20 yuan per tonne 
 
Northern China (Beijing): 3,320-3,360 yuan per tonne, up 20 yuan per tonne
 
People's Bank of China (PBOC) plans to cut the RRR for some banks by 0.5-1 percentage points from March 16, potentially releasing around 500 billion yuan into the lending market.

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