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21 Jan

Chinese rebar bottoms out as restocking commences

Chinese rebar traders have begun tentative restocking, causing prices to turn around at the end of last week. Shagang cut its ex-works prices again on Sunday, but several other mills were already making tentative increases in their offer prices, Kallanish notes. In Shanghai on Friday afternoon 20mm HRB400 rebar was trading at CNY 3,710-3,740/tonne ($577-582/t), down another CNY 25/t from a week earlier. By the end of the week however prices were already starting…
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