China's domestic rebar prices were stable on Tuesday January 8 amid a divided outlook on prices in the coming weeks and higher billet prices being negated by lower futures.
Domestic Eastern China (Shanghai): 3,730-3,780 yuan ($544-551) per tonne, unchangedNorthern China (Beijing): 3,650-3,680 yuan per tonne, unchangedSpot market traders kept their prices flat as higher billet prices were offset by lower futures. Some participants said they expect domestic rebar prices to decrease amid softening demand from both end users and stockists ahead of the Chinese New Year celebrations next month.Some others,...