WEEKLY: SHFE rebar prices to stay stable before CNY

Rebar prices in China’s physical market stayed steady over the week of January 13-17 as market activity quietened markedly with the approach of Chinese New Year. Prices in the futures market also remain rangebound, and market sources told Mysteel Global they doubted they would see any significant changes in prices before the holiday.
The most traded May rebar contract on the Shanghai Futures Exchange stayed firm during the week, gaining Yuan 27/tonne ($4/t) or 0.8% to close at Yuan 3,595/t as of January 17 compared with the settlement price on the prior Friday. Meanwhile, the national average price for HRB400 20mm rebar inched


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