China's domestic rebar prices continued to drop on Thursday February 14 amid a weakening of the billet and futures markets.
Domestic Eastern China (Shanghai): 3,750-3,780 yuan ($554-559) per tonne, down 50-60 yuan per tonneNorthern China (Beijing): 3,800-3,830 yuan per tonne, narrowed downward by 10 yuan per tonneThe release of data that showed an increase in inventory levels resulted in bearish sentiment during the day, which weighed on prices.The spot market had 8.3 million tonnes of rebar on Thursday, up...