WEEKLY: SHFE rebar futures price rangebound for 2 weeks
Oct 23, 2020 18:15
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The most-traded rebar contract on the Shanghai Futures Exchange (SHFE) inched up Yuan 3/tonne ($0.4/t) on week from the settlement price on October 16 to reach Yuan 3,616/t at the close on Friday. Market players were awaiting clearer signals about market trends, Mysteel Global noted.
Rebar futures prices had experienced an surge on October 9, China’s first day back at work after the National Day holiday, when the market witnessed record high daily spot trading volume. But since then, prices have kept fluctuating, Mysteel Global noted. The closing price on October 23 was only Yuan