China's rebar prices resumed its downtrend on Friday May 31 amid declining futures, though the outlook for the market over the next week remains mixed.
Domestic Eastern China (Shanghai): 3,940-3,980 yuan ($570-576) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,880-3,950 yuan per tonne, narrowed down 10-40 yuan per tonneTrading activity during the day was thinner than that on Thursday, with buyers deciding to wait for prices to fall further, sources said. Some traders are expecting prices to fall further in the next week amid lower...