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 2008 . Production has been falling since pollution restrictions curbed use of sintering machines and blast furnaces in the country ’s biggest industrial city Shanghai , leaving them closed for more than 30 days . At the same time , stockpiles fell by 104,700 metric tonnes to 9.89 million mt with stocks of steel scrap and hot - rolled products also falling .
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. At the same time steel stockpiles fell by 104,700 metric tonnes to 9.89 million mt with stocks of steel rebar and hot-rolled products also falling.