China's domestic rebar prices weakened on Monday May 11, with downstream buyers taking a wait-and-see approach following futures losses in the afternoon.
DomesticEastern China (Shanghai): 3,480-3,510 yuan ($492-496) per tonne, down by 20-30 yuan per tonneA Shanghai-based trader said trading activity in the spot market thinned during the day in comparison with last week, with sentiment dampened by the declining futures.But most sources insisted that rebar demand remained strong, bolstered by the strength in the construction sector amid real estate growth.The trader said that her sales in...