Trade Resources Market View Rebar Futures Increased in The SHFE on Expected Reduction of Output

Rebar Futures Increased in The SHFE on Expected Reduction of Output

Reportedly, rebar futures increased in the Shanghai Futures Exchange (SHFE) on expected reduction of output from Chinese steel mills.

Price of rebar for May delivery increased to around RMB3,486/ton. It is said that China’s average daily crude steel output slipped by 2.7% to 1.96 million tons during the last 10 days of December compared to the previous 10 days.

Some market participants said rebar prices are likely to remain stable due to lower production.

Source: http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=68186&division=A4
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China's Rebar Prices to Rise
Topics: Metallurgy