China's domestic rebar prices were unchanged on Wednesday March 21 despite a further weakening of the futures and billet markets, with sellers of the long steel product refusing to lower their offers further amid losses.
Domestic Eastern China (Shanghai): 3,670-3,730 yuan ($580-590) per tonne, unchanged Northern China (Beijing): 3,850-3,880 yuan per tonne, unchanged Stockists refused to lower their rebar offers further despite the losses in the futures and billet markets during the day because they had spent more money building up their inventories than what they can fetch now.Some market participants expect rebar prices to fall further over the rest of...