China's domestic rebar prices fell sharply on Tuesday January 12 on destocking pressure and falling futures.
Domestic
Eastern China (Shanghai): 4,380-4,400 yuan ($676-679) per tonne, down by 100 yuan per tonne
Rebar futures fell during the night trading session on Monday, resulting in bearish sentiment in the spot market on Tuesday morning.
Sellers cut prices to stimulate sales, but buyers withdrew from the market on seeing...