CHINA REBAR: Restocking demand pushes up domestic prices

July 09, 2020 / www.metalbulletin.com / Article Link

China's domestic rebar prices increased further on Wednesday July 8 on restocking demand and rising futures.

Domestic
Eastern China (Shanghai): 3,560-3,590 yuan ($507-511) per tonne, up by 30 yuan per tonne
Rising futures encouraged some buyers to start replenishing their stock in the past couple of days, sources said.
A trader in eastern China said he sold 30% more rebar on Wednesday than each day last week on average.

But market participants do not expect the restocking demand to last due to the effect of the...

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