China's domestic rebar market maintained its downward trend on Wednesday November 7 with sellers stepping up their efforts to destock.
Domestic Eastern China (Shanghai): 4,500-4,550 yuan ($650-657) per tonne, down 90 yuan per tonneNorthern China (Beijing): 4,380-4,420 yuan per tonne, down 40 yuan per tonneSellers were actively destocking during the day on the weak futures market and their bearish outlook for demand over the next few months.The price of billet also fell late on Tuesday, which...