China's domestic rebar prices moved up on Wednesday May 6 after a five-day break for Labor Day amid a drop in spot market inventory levels and rising futures.
Domestic
Eastern China (Shanghai): 3,430-3,460 yuan ($486-490) per tonne, up by 20 yuan per tonne
China's 20 biggest rebar markets had 8.31 million tonnes of the product at the end of April, down by 610,000 tonnes (6.8%) from April 20, according to China Iron & Steel Association (Cisa).
Declining stock levels have been...