CHINA REBAR: Eastern prices soften slightly, but sentiment not overly bearish

Eastern China's rebar prices edged downward on Friday March 6 following losses in the futures market, but spot market participants were not overly pessimistic.

Eastern China (Shanghai): 3,410-3,440 yuan ($491-495) per tonne, down 10-20 yuan per tonne
Northern China (Beijing): 3,270-3,320 yuan per tonne, down 10 yuan per tonne
A local industry information provider said late on Thursday that steel inventories in the spot market are much higher than the amount being reported by warehouses.

This was regarded as one of the main reasons...

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