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WEEKLY: China rebar futures prices down on static demand

The most-traded rebar contract on the Shanghai Futures Exchange for October declined by Yuan 45/tonne ($6.5/t) from the settlement price on August 7 to close the daytime session on August 14 at Yuan 3,799/t, SHFE data show. Demand for these construction longs has not increased remarkably so far, even though expectations remain positive for this half, Mysteel Global learned.
“The wet season this year lasted longer than usual, and the rains were more intense, affecting outdoor construction work significantly. But now that the wet season has ended, demand in southern and eastern China has gradually resumed, though demand in the north is delayed as the rain belt has travelled


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