CHINA REBAR: Domestic prices dip but sentiment less bearish

China's domestic prices dropped slightly on Wednesday July 15 due to weak demand caused by persistently heavy rain in the country, though market participants are not expecting the market to experience any sharp drops anytime soon.

Domestic
Eastern China (Shanghai): 3,590-3,610 yuan ($513-516) per tonne, down by 10 yuan per tonne
Eastern China continued to experience wet weather during the day, which weighed on end-user demand for rebar.

Sellers cut prices to generate more sales but that did not appear to have worked, with buyers keeping their procurement...

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