CHINA REBAR: Lighter inventories push up prices

China's domestic rebar prices moved up on Wednesday October 28, following futures gains prompted by the expectation of lower inventories next month.

Domestic
Eastern China (Shanghai): 3,730-3,760 yuan ($556-561) per tonne, up by 30 yuan per tonne
Market participants said their inventories had dropped gradually over the past two or three weeks on good end user demand.

Rebar stock in one of big rebar markets in eastern China, Hangzhou, was 680,000 tonnes on Wednesday, down by 300,000 tonnes...

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