China's domestic rebar prices retreated on Tuesday July 2 after Tangshan eased its steelmaking restrictions for July.
Domestic Eastern China (Shanghai): 4,000-4,030 yuan ($584-588) per tonne, down 30-40 yuan per tonneNorthern China (Beijing): 3,950-3,980 yuan per tonne, narrowed downward by 10 yuan per tonneChina's steel production hub in the northern region released a notice on Tuesday detailing lighter production cuts compared with its initial note issued in late June. One of the steelmakers among six that only had to cut production by 20% can now produce steel without any restrictions in the second half of July.Among the...