China's domestic rebar prices moved up on Monday August 31 on stronger demand among stockists and a strengthening of the billet market.
Domestic
Eastern China (Shanghai): 3,670-3,700 yuan ($535-540) per tonne, up by 30 yuan per tonne
Rebar demand is expected to rise in the next two months when consumption typically experiences a seasonal peak amid milder weather.
The absence of any major calamities such as floods also bodes well for rebar demand and transportation.
These factors, along with a strengthening of the billet market over the weekend, encouraged stockists to...