Home » Business » Manufacturing
Rebar steel prices surge
Print Edition
CHINA’S rebar steel prices surged after the government closed medium frequency furnaces to stop production in a bid to crack down on low quality steel.
Prices of rebar steel surged 14.4 percent to 3,810 yuan (US$561) per ton by yesterday as production shrank to 62.5 million tons from January to April, down 2 percent from a year ago, according to lgmi.com, a domestic steel consultancy.
The closure is in line with China’s policy to clear “ditiaogang,” referring to low quality steel made from scrap metal, by the end of June.
The supply of rebar has been hit as medium frequency furnaces are the main facility to make it, said Wang Guoqing, research director at lgmi.com.Such furnaces produced about 6,000 tons of rebar last year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
