CHINA REBAR: Prices pick up amid destocking

China's domestic rebar prices moved up on Wednesday March 18 amid falling inventories at mills and on the spot markets, Fastmarkets heard.

Eastern China (Shanghai): 3,530-3,560 yuan ($503-507) per tonne, up 20-30 yuan per tonne
Northern China (Beijing): 3,390-3,430 yuan per tonne, up 10 yuan per tonne
Steel stock has decreased in the past week or two, with more end-users returning to the market, sources said.

A source at a northern mill told Fastmarkets that their inventory had decreased...

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