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21 May
10:01

Chinese rebar declines over $80 on-week

China's rebar prices slumped sharply last week following continuous statements from the central government on inflation. Steel mills however have been adjusting ex-works prices more slowly. In Shanghai on Friday afternoon, 20mm HRB400 rebar was trading at CNY 4,980-5,000/tonne ($774-777), down by CNY 535/t from a week before. On the Shanghai Futures Exchange, the rebar contract for October 2021 closed at CNY 5,112/t, CNY 74/t lower compared…
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