Spot Rebar prices in China moved up on Friday
as various mills in china raised the prices of long products.
Nearly 15 steel mills raised the prices by
(10-80yuan) following the price hike announced by the major producer Shagang on
Friday.
The China's steel futures market also showed an uptick and
prices of the most-traded October rebar contract on the Shanghai Futures
Exchange rose by 0.4 percent to reach 4,296 yuan ($680) a tonne by the midday
break, its second weekly gain in a row.
Looking at the market condition, the
market players are divided on the basis of their outlook for prices.
Some are expecting stronger demand in expectation to demand to pick up in
warmer weather while others do not agree to the same and prefer to wait and watch.
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