CHINA REBAR: Domestic prices dip on growing pessimism

China's domestic rebar prices dropped slightly on Friday June 12 amid a bearish outlook for demand due to the country bracing itself for floods amid forecast heavy rain.

Domestic
Eastern China (Shanghai): 3,580-3,610 yuan ($505-510) per tonne, down by 10 yuan per tonne
Northern China (Beijing) - weekly assessment: 3,690-3,720 yuan per tonne, down by 10 yuan per tonne
The Ministry of Water Resources issued a flood alert on Thursday after the water at 148 rivers rose above warning levels.

Southern China in particular is expected to experience heavy rain frequently in the June-August period, with rainfall forecast to...

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