China's domestic rebar prices lost their upward momentum on Tuesday March 5 amid declining futures, while trading activity also thinned.
Domestic Eastern China (Shanghai): 3,800-3,840 yuan ($567-573) per tonne, narrowed downward by 20 yuan per tonneNorthern China (Beijing): 3,800-3,830 yuan per tonne, down 20-30 yuan per tonneDeclining futures led sellers to lower their prices in the morning. The lower prices led buyers to procure materials until the afternoon when rebar futures started to recover some of the losses made in the earlier part of the day.Sales volumes were lower...