CHINA STEEL WRAP: Rebar prices rise further on costlier billet, iron ore August 06, 2013 China’s spot rebar prices continued to rise on Tuesday August 6 in response to gains in the raw material and semi-finished markets while those for hot rolled coil were mixed due to uncertainties. In Beijing, grade III rebar was trading at 3,520-3,610 yuan ($570-585) per tonne, up 20-30 yuan ($3-5) per tonne from Monday. In Shanghai, the same product was traded at 3,460-3,630 yuan ($561-588) per tonne, up 20 yuan ($3) per tonne from the previous day. Trading activity in the spot market remained slow, but gains in the billet and iron ore markets helped push rebar prices up. In Tangshan, billet was traded 20 yuan ($3) per tonne higher for the day at 3,110 yuan ($504) per tonne.
Posted on: Tue, 06 Aug 2013 10:14:39 +0000
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