China’s steel rebar prices increased in both the domestic and export markets on Monday May 18 due to rising production costs, Fastmarkets was told. DOMESTIC - Eastern China (Shanghai): 3,530-3,560 yuan ($496-500) per tonne, up by 70 yuan per tonne Raw materials’ prices moved up in the past two weeks, pushing up rebar mills’ production costs and supporting rebar prices in the spot market, sources said. Fastmarkets’ calculation for iron ore 62% Fe fines, cfr Qingdao was at $93.65 per tonne on May 15, up by $9.61 per tonne from $84.04 per tonne on May 4. Fastmarkets’ assessment for steel scrap heavy scrap domestic, delivered mill China was at 2,550-2,630 yuan per tonne on May 15, up by 140-220 yuan per tonne from 2,330-2,490 yuan per tonne on April 30. Steel rebar trading was active over the day stimulated by the sharp price rise, sources reported
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