Reportedly, the rebar futures price on the Shanghai Futures Exchange (SHFE) rose again on Wednesday since the previous trading day on signs of an increasing steel demand in China that have prompted mills to restock iron ore and life prices that fell by a quarter in last month.
The contract price on most traded rebar for January delivery on SHFE rose by 0.6% to RMB3, 602/ton by the midday break.
Meanwhile, the rebar prices have increased more than 12% since hitting a record low on September 6th