China’s domestic rebar prices increased on Monday August 19 amid rising futures stimulated by plans unveiled by the central Chinese government to lower borrowing costs for companies. DOMESTIC - Eastern China (Shanghai): 3,700-3,730 yuan ($525-530) per tonne, up 30 yuan per tonne - Northern China (Beijing): 3,620-3,640 yuan per tonne, up 10 yuan per tonne China will implement “market-oriented reform measures” to reduce real interest rates and ease financing difficulties for companies, Premier Li Keqiang said at a State Council’s meeting last Saturday. Rebar futures rose rapidly on Monday morning on improved sentiment, which led to higher trading activity and price increases in the spot rebar market, sources said.
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