MONTHLY: China’s Nov rebar profit surges $30/t on month
Dec 11, 2019 18:00
Rebar profit among China’s 91 integrated steelmakers under Mysteel’s monthly study averaged Yuan 516/tonne ($73/t) over October 26-November 25, or up Yuan 211/t on month, mainly because of rebar price rises on better demand and market sentiment while steady iron ore prices.
Among the three finished steel products including rebar, hot rolled coil and medium plate, rebar remained the most profitable steel product, as HRC profit averaged Yuan 186/t for November, up Yuan 98/t on month, and plate up Yuan 106/t on month to Yuan 201/t.
“Rebar margin more or less matched my