27
Oct
11:49
Chinese rebar gains on CNY 1 trillion debt support
Chinese construction steel prices continued to recover last week and saw a weekly peak last Friday.
In Shanghai on Friday afternoon, 20mm HRB400 rebar was trading at CNY 3,700-3,720/tonne ($505-508/t), gaining CNY 50/t from a week before, Kallanish assesses. The January 2024 rebar contract on the Shanghai Futures Exchange closed at CNY 3,724/t, up CNY 39/t compared with Thursday and CNY 114/t higher from the previous Friday.
Although speculative transactions…
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Anonymous
Very good overview of the weekly steel market.
Anonymous