China's domestic rebar prices remained in a downward trend on Tuesday March 20 with sellers making more effort to destock.
Domestic Eastern China (Shanghai): 3,670-3,730 yuan ($579-589) per tonne, down 60-70 yuan per tonne Northern China (Beijing): 3,850-3,880 yuan per tonne, down 20 yuan per tonne Sellers in the spot market lowered their prices after rebar futures declined in the morning trading session. Although the futures market charted a recovery in the afternoon, sellers did not raise their offers in response due to their eagerness to draw down their inventories. Procurement rates among buyers picked up during the day now that...