China rebar sinks to near 10-year low amid weak demand, elevated inventories
Chinese domestic rebar prices fell below 3,000 yuan/metric ton ($444/mt) in early August for the first time in nearly 10 years, pressured by persistently weak construction steel demand, insufficient production cuts and pessimistic market sentiment. Several China-based mill and trading sources expected that elevated rebar inventories could cap any seasonal recovery in late August and ...
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