China's domestic rebar prices lost their upward momentum on Tuesday January 19 amid a weakening of the futures market.
Domestic
Eastern China (Shanghai): 4,300-4,330 yuan ($662-667) per tonne, unchanged
Rebar futures plunged on expectations of falling demand from the construction sector in the next month due to the Chinese New Year in the second week of February, sources said.
As such, sellers in the spot market could not preserve the uptrend for rebar prices...