Trading activity in China’s domestic rebar market picked up on Thursday September 5 due to an open arbitrage window between physical and futures prices.
Eastern China (Shanghai): 3,650-3,680 yuan ($510-514) per tonne, up 20 yuan per tonne
Northern China (Beijing): 3,640-3,660 yuan per tonne, up 30-40 yuan per tonne
A gap of about 200 yuan per tonne between spot prices in eastern China and the January futures contract on the Shanghai Futures Exchange emerged during the day.
Stockists bought rebar to replenish their inventories in…