China's rebar prices lost their momentum and dropped on Tuesday April 3 on less bullish sentiment led by losses in the billet market as well as a softer futures market.
Domestic Eastern China (Shanghai): 3,650-3,700 yuan ($581-589) per tonne, down 40-50 yuan per tonne Northern China (Beijing): 3,730-3,750 yuan per tonne, down 50 yuan per tonne Billet prices dropped late on Monday due to lower prices of its downstream products, such as wire rod, a trader based in Tangshan said. Meanwhile, rebar futures lost their gains at Monday night. The two factors caused bearish...