Eastern China's rebar prices continued rising on Wednesday May 30 on falling stockpiles, while those in northern China were flat amid weak trading activity.
Domestic Eastern China (Shanghai): 3,870-3,920 yuan ($603-611) per tonne, up 20-30 yuan per tonneNorthern China (Beijing): 3,860-3,880 yuan per tonne, unchangedRebar inventories in major eastern Chinese markets such as Shanghai and Hangzhou have steadily decreased in the past few weeks and are expected to keep dropping as a number of producers in the region have reduced their output due to environmental inspections, causing rebar prices...