CHINA REBAR: Destockingpushes down domestic prices further

China's domestic rebar prices kept their downward trend on Wednesday December 4 as traders unloaded inventory.

Eastern China (Shanghai): 3,970-4,000 yuan ($562-566) per tonne, down 20 yuan per tonne
 Northern China (Beijing): 3,700-3,740 yuan per tonne, down 10-20 yuan per tonne

Rising spot market inventory caused by weaker demand and high output led trading houses to urgently destock, which pushed down rebar prices.
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