CHINA REBAR: Selling pressure keeps spot prices flat

May 13, 2021 / www.metalbulletin.com / Article Link

Domestic rebar prices in China held steady for a second day despite steady gains in the futures market, with destocking pressure keeping any upward momentum from taking hold.

Domestic
Eastern China (Shanghai): 6,000-6,030 yuan ($933-938) per tonne, unchanged

Some sellers raised their offers by 10-20 yuan per tonne upon seeing the gains in the futures market, but buyers snubbed these. Instead, they were only willing to pay the...

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