China’s domestic rebar prices rose again on Tuesday September 3, supported by strong futures prices even though trading was not very active.
Domestic
Eastern China (Shanghai): 3,620-3,650 yuan ($504-508) per tonne, up 30 yuan per tonne
Northern China (Beijing): 3,600-3,620 yuan per tonne, up 20 yuan per tonne
The rebar futures price on the Shanghai Futures Exchange remained above Monday’s settlement price of 3,369 yuan per tonne throughout the trading day on Tuesday, pushing up spot prices.
But buyers did not raise procurement rates due to…