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DAILY: China rebar price grows further to 4-month high

China's national price of the HRB 400 20mm dia rebar grew for the third working day on Monday, up Yuan 42/tonne ($5.9/t) from last Friday to Yuan 3,828/tonne including the 13% VAT. It is the highest record after the Chinese New Year holiday, according to Mysteel’s data.
On the same day, rebar prices in the futures market also saw a significant increase, boosting the market sentiment. As of June 1, the most-traded rebar contract on the Shanghai Futures Exchange for deliveries in October closed the daytime session at Yuan 3,577/t, gaining Yuan 44/t from the settlement price on last Friday. With both

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