China's domestic rebar prices moved down on Tuesday October 8 on heightened selling interest and weak futures on the first working day after the country's Golden Week.
Domestic Eastern China (Shanghai): 3,740-3,780 yuan ($525-530) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 3,590-3,630 yuan per tonne, down 10 yuan per tonneStockists who built up their inventories late in September were actively destocking by cutting their prices upon seeing the futures market weaken, sources said.There was some buying from the...