China's plunging steel prices are stoking the bearish sentiment among buyers over prices for steelmaking raw materials.
Domestic rebar prices in China had entered the month of March above 4,000 yuan ($633) per tonne. Metal Bulletin's assessment of domestic prices for rebar in east China was 3,410-3,500 yuan per tonne on Monday March 26, compared with 4,080-4,120 yuan per tonne on March 1.A steel mill source in China said that that it was expecting to realize lower steel prices from its spot and term sales in the coming months. He added that it was difficult to tell...