CHINA REBAR: Pessimistic outlook fuels selling pressure

Rebar sellers in eastern China continued to lower their offers on Friday August 27 to generate more sales, but spot prices remain higher than last Friday as a result of gains from earlier this week.

Domestic
Eastern China (Shanghai): 5,130-5,160 yuan per tonne, down by 20 yuan per tonne
Northern China (Beijing) weekly assessment: 5,010-5,050 yuan per tonne, unchanged

Sellers looked to offload more of their cargoes by lowering their offers slightly to generate sales amid...

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