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WEEKLY: China’s rebar futures prices up on optimism

Prices of rebar in China’s spot and futures markets rose further this week, fuelled by optimism both for a steel demand recovery and a macro-economic rebound, according to market pundits. But for now, the fundamentals are not reflecting that anticipation of better business ahead, Mysteel Global noted.
The most-traded rebar contract on the Shanghai Futures Exchange (SHFE) for May delivery gained Yuan 145/tonne ($22.4/t) from the settlement price on February 19 to end the daytime trading session on February 26 at Yuan 4,677/t. In parallel, Mysteel’s assessment of China’s HRB400 20mm dia rebar price also increased by Yuan

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