Eastern China (Shanghai):
4,600-4,620 yuan ($712-715) per tonne, narrowed downward by 20 per tonne
Buyers submitted lower bids for rebar during the day and only bought from sellers who were under pressure to sell due to high stock levels.
An industry analyst noted that many trading companies had stocked up on rebar when prices were at 4,200-4,250 yuan per tonne in late January and early February. By selling at...