According to report, Chinese rebar prices hiked on July 27th and reached the highest since February 2013 on strong demand and lower stock. It was also a signal that there would more production restrictions in Chinese steelmaking center.

Tangshan is the largest steelmaking city in Hebei province, and there would be tight supply on temporary limitations this month. All sintering machines and shaft furnaces in Tangshan would have to close down on July 27th to July 31st due to pollution.

Currently steel product stocks were also down by around 9.9 million tons on July 27th, and rebar stock dropped by 1.8% to 4.5 million tons.

In the week ended July 27th, the overall rebar rose by averagely 2.2% and iron ore rose by 3.4%.