China's domestic rebar prices dropped on Monday May 7 following falls in the billet market over the weekend.
Domestic Eastern China (Shanghai): 4,000-4,050 yuan ($629-637) per tonne, down 50-60 yuan per tonneNorthern China (Beijing): 3,890-3,940 yuan per tonne, widened down 20 yuan per tonneBillet prices dropped sharply during the weekend on high selling interest, which prompted rebar traders to cut their prices in the morning session on Monday.Buyers increased their procurements at the lower prices,...