China's domestic rebar prices held steady on Thursday October 18 despite a big drop in the futures market.
Domestic Eastern China (Shanghai): 4,550-4,590 yuan ($657-663) per tonne, unchangedNorthern China (Beijing): 4,340-4,380 yuan per tonne, unchangedRebar futures took a big tumble during the day, which dampened buying interest in the spot market.A week-on-week drop in inventory levels kept prices from falling, however, market sources said. There were 4.11 million tonnes of rebar in the spot market on Thursday, down 280,000 tonnes from a week ago, according to a local industry information provider.ExportMetal Bulletin fob China...