China's domestic rebar prices bounced back on Wednesday November 28 amid gains in the futures market, though export prices continued to spiral downward.
Domestic Eastern China (Shanghai): 3,800-3,830 yuan ($547-551) per tonne, up 50-70 yuan per tonneNorthern China (Beijing): 3,490-3,520 yuan per tonne, up 20 yuan per tonneRebar futures picked up more strength during the day, which encouraged sellers in the spot market to raise their prices. A few buyers relented and made some purchases, but most still took a wait-and-see approach amid the general weakness in the Chinese ferrous markets.Stockists do not appear to be planning to replenish their inventories anytime soon due to their pessimistic outlook for end-user...