China's rebar prices rose further on Thursday November 14 following the release of statistics showing a surge in construction starts in the first 10 months of the year.
DomesticEastern China (Shanghai): 3,830-3,860 yuan ($546-550) per tonne, up 30-50 yuan per tonneNorthern China (Beijing): 3,680-3,690 yuan per tonne, up 20-40 yuan per tonneTrading was robust, especially in eastern China, after the National Bureau of Statistics reported that China's new construction starts - measured by floor area - totaled 5.99 billion square meters over the first 10 months of the year, up 10% from a year earlier. The rate of increase is also 1.4 percentage points higher than that for the first nine months of the year.The statistics suggest that even though China's property investments have...