China Spot Market Dynamics:
Today, the average price of 20mm level three earthquake-resistant rebar in 31 major cities in China is $525.64/ton, which is the same as the previous trading day; the Shanghai Rebar USD Pricing Index closed at 516.9, up 0.33%. Throughout the day, prices in the rebar futures market fluctuated. Spot quotations in southern and northern markets of China are stable but weak; downstream terminals operate cautiously; the market trading atmosphere is average, with mainly rigid demand transactions. In terms of transactions, actual demand is still relatively weak, and transaction volume has improved slightly compared with the previous trading day. It is comprehensively expected that today’s building materials market prices may be stable and tend to be strong.