CHINA REBAR: Falling inventories boost domestic prices

May 07, 2020 / www.metalbulletin.com / Article Link

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...

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