Eastern China's rebar prices continued to weaken on Tuesday February 4 due to destocking pressure, though those in the northern region held steady on an inactive market.
Eastern China (Shanghai): 3,360-3,400 yuan ($480-486) per tonne, down 40-50 yuan per tonne
Northern China (Beijing): 3,540-3,560 yuan per tonne, unchanged
Most participants in Shanghai and Beijing were still away from the market due to local governments instructing businesses to extend their Chinese New Year break until February 9 to contain the spread of the Wuhan coronavirus.