CHINA REBAR: Pre-Chinese New Year lull halts domestic trading

Chinese rebar buyers are stepping away from the market to start their holidays for Chinese New Year, leaving trading activity muted and the domestic price unchanged on Wednesday February 3.

Domestic
Eastern China (Shanghai): 4,280-4,300 yuan ($663-666) per tonne, unchanged
Both end users and stockists have finished stocking up on inventory for consumption after the holiday that officially ends on February 17, so market trading volume has dropped sharply this week.

An industry analyst said the country's sales volume of rebar was 40,000-50,000 tonnes per day in the first three days of this week, half of the level...

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