CHINA REBAR: Lower inventories prop up domestic prices, but futures fall

China’s domestic rebar prices edged up further on Thursday November 7 on declining inventory levels, though the futures market registered a drop on a pessimistic outlook.

Eastern China (Shanghai): 3,730-3,760 yuan ($532-536) per tonne, up 10 yuan per tonne Northern China (Beijing): 3,650-3,670 yuan per tonne, up 10 yuan per tonnes Rebar inventory levels in the spot markets of major Chinese cities were at 3.43 million tonnes on Thursday, down 290,000 tonnes from a week earlier, according to a local industry information provider. The lower stock levels provided support to...

Published

Jessica Zong

November 07, 2019

09:23 GMT

Shanghai