SHANGHAI, Aug. 7 (SMM) – Rebar prices surged in both spot and futures markets on August 7.
Spot prices rose over 100 yuan per tonne, and RB1710 rebar surged by daily limit in the afternoon.
Despite this, trading was not affected at all, SMM said.
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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