Just as it seemed the heat was comingout of Chinese domestic rebar prices, themarket turned upwards again in May, thoughmany export customers for the materialremain skeptical that positive prices willsustain.Rebar prices in the Beijing marketaveraged Yuan 3,383/mt ($491/mt)in April, down 12% from March, butrecovered to average Yuan 3,545/mt inthe first half of May. Rebar inventoriesin Beijing were sitting at around 227,000mt in mid-May having dropped 11% in thespace of a week, Mysteel data showed.
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