China's domestic rebar prices failed to increase on Thursday September 3 despite a strengthening of the futures and billet markets, with inventory levels continuing to rise in the past week.
Domestic
Eastern China (Shanghai): 3,670-3,700 yuan ($537-541) per tonne, unchanged
This month's expected rise in demand has yet to take place due to unfavorable weather affecting the construction sector in China's major regions.
This has led to inventory levels in the spot rebar market rising further.
An industry analyst noted statistics from a local information provider...