CHINA REBAR: Trading inactive before New Year holiday

China's rebar prices picked up on Thursday December 31 despite thin trading, with the government's call for output cuts in the new year lifting market sentiment.

Domestic
Eastern China (Shanghai): 4,450-4,470 yuan ($682-685) per tonne, up by 20 yuan per tonne
Northern China (Beijing) weekly assessment: 3,950-4,000 yuan per tonne, down by 100-120 yuan per tonne

A Shanghai-based trader said sellers there asked for slightly higher prices than the day prior because market sentiment improved after the government called for a steel output cut in...

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