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Home / Metal News / Why Surging Rebar Price Fails to Undermine Buying Appetite? SMM Reports

Why Surging Rebar Price Fails to Undermine Buying Appetite? SMM Reports

Aug 7, 2017 15:11

Source:SMM

Rebar prices surged in both spot and futures markets on August 7.

SHANGHAI, Aug. 7 (SMM) – Rebar prices surged in both spot and futures markets on August 7.

SMM Interpretation of China Crazy Steel Rise Following CISA Meeting

Spot prices rose over 100 yuan per tonne, and RB1710 rebar surged by daily limit in the afternoon.

Shandong Laigang to Undertake Near 4-Month Maintenance at Blast Furnace in September, SMM Reports

Despite this, trading was not affected at all, SMM said.

Higher Profit Stimulates Hot-Rolled Coil Production, China Deepens “Ditiao Steel” Elimination Inspections

Some traders held off selling at the weekend in the face of big price volatility. Although prices jumped on Monday, some downstream buyers fear that prices will continue rising. Meanwhile, they actually need to build stocks. So, trading was still boosted, SMM explained.

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