Strong demand, falling stocks and production limits to reduce pollution have sent China’s construction steel reinforcing bar (rebar) prices to their highest level since February 2013. Production has been cut since pollution restrictions curbed use of sintering machines and blast furnaces in the country’s biggest steelmaking city Tangshan, leaving them closed for more than four days. Chinese steel product inventories fell by 104,700 tonnes to 9.89 million tonnes as of Friday from a week earlier, data from Mysteel consultancy showed. The price of rebar, which is used as a structural component in many buildings, was at its peak on Friday before it fell back by about 10 percent after authorities announced they would allow some factories to
Strong demand, falling stocks and production limits to reduce pollution have sent China’s construction steel reinforcing bar (rebar) prices to their highest level since February 2013. Production has been cut since pollution restrictions curbed use of sintering machines and blast furnaces in the country’s biggest steelmaking city Tangshan, leaving them closed for more than four days. The price of rebar, which is used as a structural component in many buildings, was at its peak on Friday before it fell back by about 10 percent after authorities announced they would allow some factories to