The number of new housing starts in China over January-February slumped by 45% year on year as a result of quarantined construction workers, while residential house prices in February recorded their weakest growth since July 2018, according to National Bureau of Statistics data. The lack of activity saw rebar inventories climb and domestic rebar prices in Beijing falling to Yuan 3,390/mt at the start of March from Yuan 3,700/mt ($528/mt) before the Lunar New Year break, according to S&P Global Platts data.
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