China's domestic rebar price rebounded on Friday May 28 following futures gains, encouraging buyers to return to the market. Spot market sellers followed suit.
Domestic
Eastern China (Shanghai): 4,830-4,860 yuan ($758-763) per tonne, up by 120 yuan per tonne
Northern China (Beijing) weekly assessment: 5,000-5,030 yuan per tonne, down by 400-420 yuan per tonne
Some buyers increased their procurement rates to restock inventories in the expectation of further price...