CHINA REBAR: Market participants bracing for post-holiday stock pressure

China's domestic rebar prices were flat on Thursday February 4, but some participants are expecting prices to come under pressure from rising market inventories after the Chinese New Year holiday.

Domestic
Eastern China (Shanghai): 4,280-4,300 yuan ($663-666) per tonne, unchanged
Rebar inventory levels in 20 major cities in China totaled 4.56 million tonnes in late January, up by 930,000 tonnes (25.6%) from the middle of last month, according to data released by the China Iron & Steel Association.

The higher stock levels have not had much of an effect on spot rebar prices at the moment because futures are...

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