China's domestic rebar prices continued to drop on Thursday March 11 on soft demand caused by rain in the country's eastern and southern regions.
Domestic
Eastern China (Shanghai): 4,610-4,630 yuan ($709-713) per tonne, down by 20 yuan per tonne
Stockists lowered their prices to draw down their inventories, but trading activity did not pick up despite that due to bad weather.
End users bought limited quantities of rebar, which would be transported to them once the weather improves.
Trading houses were cautious...