SHFE rebar prices rangebound, supported by coke prices
Jan 22, 2021 18:00
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Rebar prices in China’s futures market stayed rangebound during the January 18-22 week. Sources said Friday that weakening demand had dampened the rebar price and that in the days ahead, the trend of raw materials prices would play an important role in determining the ferrous market’s direction overall.
The most-traded rebar contract on the Shanghai Futures Exchange (SHFE) for May delivery lost Yuan 74/tonne ($11.4/t) from the settlement price on January 15 to end the daytime trading session on January 22 at Yuan 4,294/t.
“Prices of most ferrous materials have been fluctuating for a while, among which the fundamentals