09
Jun
13:16
Chinese rebar gains on positive expectations
China's construction steel market rebounded last week, and the rumoured stimulus policies led to a rapid recovery in market confidence.
In Shanghai on Friday afternoon, 20mm HRB400 rebar was trading at CNY 3,580-3,600/tonne ($502-505/t), up by CNY 140/t on-week. The October 2023 rebar contract on the Shanghai Futures Exchange closed at CNY 3,711/t, up by CNY 57/t compared with Thursday and CNY 115/t from the week before.
Although the …
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Anonymous
Very good overview of the weekly steel market.
Anonymous