CHINA REBAR: Strong futures stimulates restocking demand

June 11, 2021 / www.metalbulletin.com / Article Link

China's domestic rebar prices continued to trend upward on Thursday June 10 after trading activity picked up in response to rising futures.

Domestic
Eastern China (Shanghai): 5,000-5,030 yuan ($782-787) per tonne, up by 30-40 yuan per tonne
Trading houses expect spot rebar prices to keep rising on the bullish sentiment in the futures market. As such, they raised their procurement rates to stock up on cargoes.

On Thursday,...