China's rebar prices fell further on Tuesday June 4 in both the domestic and export markets amid attempts by sellers to secure orders.
Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($565-572) per tonne, down 30-40 yuan per tonneNorthern China (Beijing): 3,820-3,870 yuan per tonne, down 30 yuan per tonneStockists are mostly pessimistic about demand in the spot market over the next month or two. This encouraged them to draw down their inventories by cutting prices.Gains in the futures market stimulated buying interest, resulting in...