CHINA REBAR: Prices stop rising in eastern region on selling pressure

October 24, 2020 / www.metalbulletin.com / Article Link

Rebar prices in eastern China lost their upward momentum on Friday October 23 amid destocking pressure experienced by sellers. But prices in the region ended the week 30 yuan per tonne, largely due to Monday's gains.

Domestic
Eastern China (Shanghai): 3,710-3,740 yuan ($576-561) per tonne, unchanged
Northern China (Beijing) weekly assessment: 3,630-3,680 yuan per tonne, unchanged
https://www.metalbulletin.com/My-price-book.html?price=42401

Stockists in the country's eastern region are actively trying to draw down their inventories due to expectations of demand dropping from November and supply from the north to the east rising in the next few months....

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