China's domestic rebar prices fell further on Thursday July 16 amid high stock levels in the spot market.
Domestic
Eastern China (Shanghai): 3,560-3,590 yuan ($509-513) per tonne, down by 20-30 yuan per tonne
Heavy rain and high summer temperatures sapped demand for rebar in the past week, which resulted in higher inventory levels in the market.
Spot markets in China had 8.42 million tonnes of rebar on Thursday, up...