CHINA REBAR: Subdued futures, restocking demand ahead of weekend keep prices flat

Eastern China's domestic prices were unchanged on Friday November 13 amid healthy demand ahead of the weekend despite early losses in the futures market. Spot prices in the region ended the week 170 yuan per tonne higher, however.

Domestic
Eastern China (Shanghai): 4,060-4,090 yuan ($614-619) per tonne, unchanged
Northern China (Beijing) weekly assessment: 3,930-3,960 yuan per tonne, up by 170 yuan per tonne
End users raised their procurement rates for consumption over the weekend.

But a weakening of rebar futures in the morning made sellers keep spot prices flat to generate more sales. Rebar futures eventually recovered the losses to end the day...

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