China's domestic rebar prices edged up on Friday July 3 on higher trading activity amid a rising futures market, but the near-term outlook remains bearish.
Domestic
Eastern China (Shanghai): 3,510-3,540 yuan ($497-501) per tonne, up by 10 yuan per tonne
Northern China (Beijing) - weekly assessment: 3,630-3,660 yuan per tonne, unchanged from June 29
Traders raised rebar prices slightly following futures gains and this move stimulated interest from some buyers.
But most other buyers are keeping their purchase...