China's domestic prices for rebar held steady for a second day on Tuesday October 22 despite gains in the futures market, with participants taking a wait-and-see approach before deciding whether to engage in arbitrage trading.
Eastern China (Shanghai): 3,580-3,610 yuan ($505-510) per tonne, unchangedNorthern China (Beijing): 3,550-3,590 yuan per tonne, unchangedRebar futures went from a low of 3,280 yuan per tonne during the day to close at 3,318 yuan per tonne, which was the first day rise after dropping in the past two trading days.But participants remained concerned about rising supply during the winter, so they held back from going all in on arbitrage trading by going...