Chinese Rebar Price Climbs Higher Still
The Chinese domestic price for rebar surged to the highest level since October 2011 on 4 December at $605/t, according to World Steel Dynamics. The rebar price has now risen by over $100/t since the start of November, with the majority of gains concentrated in the past two weeks. This is likely the result of concerns about supply tightness following the implementation of curbs on steel mill output in Northern Chinese cities as part of the Chinese government’s anti-pollution plan. At $470/t, the year to date average for the rebar price is on track to be the strongest since 2013.