China's domestic rebar prices tumbled on Tuesday January 23, shedding about half of the gains made a day earlier amid sparse trading and losses in the billet and futures markets.
Domestic Eastern China (Shanghai): 3,850-3,900 yuan ($601-609) per tonne, down 50 yuan per tonne Northern China (Beijing): 3,900-3,950 yuan per tonne, down 80-100 yuan per tonne A major price reduction by east China's major rebar producer Shagang a couple of days earlier weighed on the spot market during the day, sources said.https://www.metalbulletin.com/Article/3781871/long-products/Chinas-Shagang-slashes-long-steel-prices-again-for-late-January.html The price of...