China's domestic rebar prices moved up sharply on Thursday November 5 following the release of data indicating a drop in output and inventory levels in the past week.
Domestic
Eastern China (Shanghai): 3,870-3,900 yuan ($579-583) per tonne, up by 40-50 yuan per tonne
Falling rebar output and inventories took pressure off prices, market sources said.
A total of 3.59 million tonnes of rebar were produced in China in the week to Thursday, down by 41,000 tonnes from the preceding week.
The...