China's domestic rebar prices continued to decrease on Monday May 21 on weak trading activity amid losses in the futures market.
Domestic Eastern China (Shanghai): 3,950-4,000 yuan ($619-627) per tonne, down 20 yuan per tonne Northern China (Beijing): 3,890-3,920 yuan per tonne, down 10-20 yuan per tonne The weakness in the futures market during the day resulted in buyers taking a wait-and-see approach. The drop in trading activity resulted in lower prices in the spot market, though sellers did not implement cuts that...