China’s domestic rebar prices fall as tariff war intensifies

China’s domestic rebar prices fall as tariff war intensifies
Published by:Jessica Zong<>
16 Apr 2025 @ 10:35 UTC

China’s domestic rebar prices fell on Wednesday April 16, following a dip in futures prices after the United States announced tariffs of up to 245% on Chinese imports, sources said. Fastmarkets’ daily price assessment for steel reinforcing bar (rebar) domestic, ex-whs Eastern China was 3,020-3,040 yuan ($413-416) per tonne on Wednesday, down by 20 yuan per tonne from 3,040-3,060 per tonne on Tuesday.
The latest tariffs signaled an escalation in the US-China trade war, which continued to have a negative impact on the stock and commodity futures markets, according to an industry analyst.
Spot market sellers reduced their rebar prices to secure more orders before any potential dip in prices amid the tariff turmoil, sources said.
Buyers were less active in purchasing rebar on Wednesday, and a trader based in Shanghai said his sales volume was 10% lower compared with Tuesday.
Most buyers also suspended their regular purchases of rebar ahead of any potential dip in prices, a second Shanghai-based trader told Fastmarkets.
Market Chatter Economic data for the first quarter out of China is good, which will offer some support to commodity prices. So I’m not very bearish, an industry analyst said.
China’s gross domestic product (GDP) rose by 5.4% year on year in the first quarter, according to preliminary data published by National Bureau of Statistics on Wednesday.
Billet Fastmarkets’ daily price assessment for steel billet domestic, exw Tangshan, Northern China was 2,950 yuan per tonne including value-added tax on Wednesday, down by 20 yuan per tonne from 2,970 yuan per tonne on Tuesday.
Shanghai Futures Exchange The most-traded October rebar futures contract on the Shanghai Futures Exchange closed at 3,093 yuan per tonne on Wednesday, down by 32 yuan per tonne from the closing price of 3,125 yuan per tonne on Tuesday.