Heavy rain in the upper and middle reaches of the Changjiang River led to reduced activity at construction sites, pushing spot rebar prices down on Monday (August 9th).
Domestic East China (Shanghai): Traded 5,180-5,220 yuan ($800-806), down 20 yuan per ton.
Prices rose on Wednesday (11 August) despite the drop in demand.
Chinese domestic rebar prices continued their upward trend on Wednesday (August 11th), despite the decline in demand due to adverse weather conditions in many regions.
Local East China (Shanghai): Up 30 yuan per tonne to 5,230-5,260 yuan ($807-812) per tonne. End-user demand is decreasing day by day due to heavy rains in the eastern region and high temperatures in the south.
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