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Soaring metal prices spell trouble for China s recovery CNN 6 hrs ago By Laura He, CNN Business © Feature China/Barcroft Media/Getty Images WUHAN, CHINA - MAY 08 2021: Two staff work in MIZ Metal Product Wuhan Co. Ltd., a joint venture between Japan s Itochu-Marubeni Steel Inc. and its Chinese partner, in Wuhan in central China s Hubei province Saturday, May 08, 2021. China and the United States are in a race for scarce commodities to rebuild their economies after the pandemic. That s pushing prices through the roof and is now threatening to throw Beijing s recovery plans off course. Popular Searches The cost of everything needed for China s post-pandemic infrastructure boom, from steel and coal to glass and cement, is soaring. The price of rebar, a type of steel used to reinforce concrete, recently hit 6,200 yuan ($965) per metric ton in Shanghai, up 40% this year, and a new record high. Iron ore, which is used to make steel, has topped 1,240 yuan

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