CHINA REBAR: Prices ease on low bids, supply pressure

China's domestic rebar prices softened on Tuesday February 23 amid falling futures, weak demand and destocking pressure.

Domestic
Eastern China (Shanghai): 4,600-4,620 yuan ($712-715) per tonne, narrowed downward by 20 per tonne
Buyers submitted lower bids for rebar during the day and only bought from sellers who were under pressure to sell due to high stock levels.

An industry analyst noted that many trading companies had stocked up on rebar when prices were at 4,200-4,250 yuan per tonne in late January and early February. By selling at...

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