According to Mr Lu Zhangfu GM of Zhangjiang Fuchang Steel Materials Co rebar price in Chinese market would overrun the ceiling price of last year.

The construction steel market moved up further from April and according to Mr Lu the price would not come down in the whole month of April and get a push in May further.

In Hangzhou, Shagang made 16mm to 25mm II grade rebar has almost climbed to CNY 4370 per tonne. And the sales also appear good, with medium size trading houses selling some 800 tonnes per day, and the large size one shipping 1500 tonnes to 2000 tonnes. Mr Lu said this indicates release of end demand.

In 2009 rebar price in China domestic spot market reached CNY 4620 per tonne at the top. Mr Lu believed this year the price will top CNY 4800 per tonne.

Sourced from MySteel.net

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