China's domestic rebar prices stopped rising on Tuesday September 15 after falling futures and rain weakened demand.
Domestic
Eastern China (Shanghai): 3,700-3,720 yuan ($545-548) per tonne, unchanged
Continual rain in eastern China slowed down the consumption rates of rebar at construction sites as well as the transportation of the long steel product.
A weakening of the futures also reduced buying interest in the spot market.
Participants are expecting the high inventory levels in the spot...