China's domestic rebar prices continued moving lower on Friday September 21 following a decline in billet prices.
Domestic Eastern China (Shanghai): 4,530-4,580 yuan ($661-668) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 4,330-4,380 yuan per tonne, down 20-50 yuan per tonneBillet prices dropped late on Thursday amid soft demand, and the rebar futures were weak in Friday morning trading. The two factors pushed down spot rebar prices.A few buyers raised procurement rates ahead the upcoming long weekend (September 22-24),...