China's rebar futures fell on Friday August 2 after United States President Donald Trump threatened to impose a 10% import duty on $300 billion worth of Chinese goods from September 1, which pushed down spot prices for the long steel product.
Domestic Eastern China (Shanghai): 3,820-3,850 yuan ($554-558) per tonne, down 60-70 yuan per tonneNorthern China (Beijing): 3,750-3,780 yuan per tonne, down 70 yuan per tonneMarket participants are expecting the latest move by the US president to put pressure on China's economy, which will weaken its housing market and in turn, rebar demand.The bearish sentiment led to prices falling in both the spot and futures...