Tag: rebar prices rise on tighter supply

Higher raw material costs support steel prices Shrinking steel output reinforces bullish market outlook Chinese billet prices increased by RMB 20/t ($3/t) d-o-d to RMB 2,990/t ($441/t), while SHFE rebar futures gained RMB 25/t ($4/t) to RMB 3,115/t ($460/t) on 15 July, supported by stronger commodity sentiment amid concerns over potential power shortages and tightening…