Reported about 9 hours ago
Rebar futures surged after China unveiled stricter capacity limits aimed at reducing emissions and addressing steel overcapacity. Futures climbed as much as 1.6% to 3,095 yuan per ton following a new proposal mandating that any new steel capacity must be offset by greater existing capacity reductions. This plan, which reinforces restrictions in key industrial areas, encourages steelmakers to adopt greener technologies, while recent environmental orders in Tangshan could impact daily production significantly.
Source: YAHOO