Asian rebar prices flat despite Chinese stocks decline

摘要

Asian rebar prices were flat Thursday, as the market was subdued except for a few steadyIndian-cargo offers.The spot rebar market in China was also rangebound despite inventory falling on the weekfor the first time, after nine straight weeks of building stocks. S&P Global Platts assessed 16-20 mm diameter BS500 rebar at $466/mt FOB China actualweight, unchanged day on day.Chinese traders in the spot market were struggling to sell amid slow demand. Marketsentiment turned slightly positive Thursday afternoon, but prices shrugged off any positiveeffects from a decline in market inventory.