WEEKLY: Chinese rebar futures, spot prices reverse down
Nov 27, 2020 17:45
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Rebar prices in China in both the futures and physical markets reversed down this week as the winter freeze which swept over the country caused trading activity to weaken, Mysteel Global noted. Market pundits expected downward corrections in prices in the near term.
The price of the most traded rebar contract on the Shanghai Futures Exchange (SHFE) for January 2021 delivery reversed down Yuan 31/tonne ($4.7/t) on week to Yuan 3,924/t at the close on November 27 when the daytime trading session ended.
Prices in the spot market displayed a similar trend, with the