China's domestic rebar prices edged up on Tuesday May 7 on trading activity generated by gains in the futures market, while the export segment was quiet despite less competition with the start of the Islamic holy month of Ramadan.
Domestic Eastern China (Shanghai): 4,100-4,150 yuan ($607-614) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,990-4,040 yuan per tonne, widened upward by 10 yuan per tonneRebar futures rose to a high of 3,814 yuan per tonne during the day before retreating in the last 30 minutes of trading, which stimulated buying activity in the spot market.Buyers stepped up their procurement rates, which propped up spot prices, market sources said.ExportMB fob China Rebar Index: $538...