China's domestic rebar prices retreated on Tuesday February 26 after supply pressures led sellers to destock.
Domestic Eastern China (Shanghai): 3,740-3,780 yuan ($558-564) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,730-3,770 yuan per tonne, widened downward by 10 yuan per tonneSelling interest among stockists picked up due to an increase in inventory levels, which led to them lowering their prices, market sources said.The lower prices attracted buyers back to the market.Strong gains in the futures market also stimulated trading...