What Trigger Upward-Limit Gain in China Rebar Prices? SMM Reports

SHANGHAI, Nov. 25 (SMM) – On Nov. 25, rebar futures prices hit the daily upward limit, leading the cross-board rise in China’s ferrous metal market. 

“The surge is due mainly to entering of market bulls after inspections on Anfeng I/S and expectations over inspections on many blast furnaces in Tangshan,” SMM steel analyst points out. 

China Iron Ore Prices to Extend Gains, SMM Says

China’s State Council has reiterated its tough stance in eliminating inefficient capacities since the beginning of 2016, and the inspections on Anfeng steel has raised market expectations over the larger-scale checks, especially in Tangshan, which may lead to closures of unqualified ones.  

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