CHINA REBAR: Domestic prices drop on destocking need

China’s domestic rebar prices moved down on Monday August 10 due to traders’ need to cut inventories' down, Fastmarkets heard.

Eastern China (Shanghai): 3,610-3,640 yuan ($518-522) per tonne, down by 30 yuan per tonne
Trading houses cut rebar prices following futures’ losses and sought for higher sales volumes to reduce their inventories, market sources said.

End users maintained regular procurement so market...


Jessica Zong

August 10, 2020

10:30 GMT