CHINA REBAR: High inventories add to downward pressure on prices [CORRECTED]

China's domestic rebar prices dropped slightly on Monday October 26 on high, but declining, inventories.

Domestic
Eastern China (Shanghai): 3,700-3,730 yuan ($554-558) per tonne, down by 10 yuan per tonne

China Iron & Steel Association reported that rebar stock in China's major markets was about 6.33 million tonnes in mid-October, down by 6.2% from earlier in the month but till 30% higher than the 4.88 million tonnes in the same...

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