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17 Nov

Chinese rebar hikes slow on growing arrivals

China's rebar market first rose and then fell last week. Arrivals from northern steel mills topped up shortages in eastern China and eased the tight market supply. In Shanghai on Friday afternoon, 20mm HRB400 rebar was trading at CNY 3,900-3,920/tonne ($538-541/t), gaining CNY 20/t from a week before, Kallanish assesses. The January 2024 rebar contract on the Shanghai Futures Exchange closed at CNY 3,929/t, down CNY 43/t compared with Thursday but CNY 50/…
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