SHANGHAI, Mar. 22 (SMM) – RB 1306 contract price increased to around RMB 3,930/mt on Thursday, and transactions in east China were better than south China.
Rebar prices in east China increased much slower than those in south China recently, with prices in south China edging up since Tuesday, while prices east China remained little changed. Downstream enterprises in east China only watched on the sideline due to the standstill in prices, so buyers chose to purchase in spot market with prices in electronic trading exceeding spot prices. In south China, by contrast, downstream buyers purchased in large amounts earlier when prices edged up, leaving trading modest. However, demand in both regions was still recovering modestly, which will give little support to prices.