China's domestic rebar prices dropped on Friday October 11 due to pessimistic sentiment among buyers and inactivity in the market.
Domestic Eastern China (Shanghai): 3,700-3,730 yuan ($521-525) per tonne, down 20 yuan per tonne Northern China (Beijing): 3,570-3,600 yuan per tonne, down 20-30 yuan per tonne Weak futures have led customers to cut their procurement rates in anticipation of lower prices for spot rebar. Expectations that restrictions on winter production will...