CHINA REBAR: Sentiment still bearish despite sharp inventory drop

China’s domestic rebar prices were unchanged on Thursday October 24 , although market participants told Fastmarkets they expected prices to start dropping amid weakening demand despite data showing a sharp decrease in inventory levels.

Eastern China (Shanghai): 3,580-3,610 yuan ($507-511) per tonne, unchanged
Northern China (Beijing): 3,550-3,590 yuan per tonne, unchanged

Spot market inventories totaled 4 million tonnes in major cities on Thursday, down 300,000 tonnes from a week ago, according to a local industry information provider....

Published

Jessica Zong

October 24, 2019

09:10 GMT

Shanghai