CHINA REBAR: Domestic prices stop rising on destocking pressure

China’s domestic rebar prices lost their upward momentum on Tuesday October 20 due to pressure on sellers to draw down their inventories and a subdued futures market.

Eastern China (Shanghai): 3,710-3,740 yuan ($555-560) per tonne, unchanged
Several trading companies are actively selling the rebar in their warehouses due to concerns over high production rates weighing on rebar prices.

End-user demand also typically starts to drop gradually from November, which encourages sellers to conclude more sales by the end of the...


Jessica Zong

October 20, 2020

09:32 GMT