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Chinese Rebar Price Surges to Five and a Half Year High
The Chinese domestic price for rebar has surged to the highest level since May 2012 at $559/t, up by $32/t week-on-week, according to World Steel Dynamics. This increase follows the implementation of restrictions on steel mill activities in Northern Chinese cities on 15 November as part of a wider government plan to combat air pollution over the winter months. The rebar price has now averaged $468/t in the year-to-date, which compares with a 2016 average of $312/t.