CHINA REBAR: Prices edge down on inventory pressure

China’s domestic prices moved down slightly on Thursday July 2 due to the rising inventories at mills and in spot markets, sources told Fastmarkets.

Eastern China (Shanghai): 3,500-3,530 yuan ($497-501) per tonne, down by 10 yuan per tonne
Steel mills are maintaining high production rates while end-user demand is dropping gradually amid adverse weather, leaving inventories to rise, market participants said.

Rebar stock at mills was at 3.44 million tonnes on Thursday, up by 228,000 tonnes from a week earlier. Stock in the spot market was at...


Jessica Zong

July 02, 2020

10:25 GMT