China's rebar market regained some upward momentum on Monday June 24 amid fresh production cuts in the country's steelmaking hub of Tangshan.
Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($568-575) per tonne, up 70-80 yuan per tonneNorthern China (Beijing): 3,730-3,770 yuan per tonne, up 40-50 yuan per tonneAll steelmakers in Tangshan have been instructed to lower their production by at least 50% over the June 23-July 31 period, apart from six mills that have been told to lower their output by 20%, to improve air quality, according to a local government notice.Whether...