CHINA REBAR: Domestic sellers cut prices in bid to sell more volumes

China’s domestic prices for rebar retreated on Thursday February 28, with sellers making attempts to secure more sales.

Domestic Eastern China (Shanghai): 3,740-3,790 yuan ($559-567) per tonne, down 10 yuan per tonne Northern China (Beijing): 3,730-3,780 yuan per tonne, down 10-20 yuan per tonne Sellers with a lot of inventory came under pressure to lower their prices to stimulate buying interest and sell more volumes. With demand rising slowly but steadily this week, the lower prices could encourage end users to raise their procurement rates. Stockists bought at slower rates, however, since their inventories...

Published

Jessica Zong

February 28, 2019

09:40 GMT

Shanghai