Domestic demand for rebar in China increased on Friday May 15, but prices remained unchanged with sellers being under pressure to destock.
Domestic
Eastern China (Shanghai): 3,460-3,490 yuan ($487-492) per tonne, unchanged
Northern China (Beijing) - weekly assessment: 3,420-3,460 yuan per tonne, down by 30-40 yuan per tonne
End users raised their procurement rates ahead of the weekend, but the heightened buying activity failed to raise rebar prices.
This is due to many stockists having a lot of inventory that...