China's rebar futures fell on Thursday August 8 amid downward-spiraling iron ore prices. Spot prices for the long steel product were unchanged during the day, however, with buyers putting off their purchases amid the uncertainties in the market.
Domestic Eastern China (Shanghai): 3,770-3,800 yuan ($535-539) per tonne, unchangedNorthern China (Beijing): 3,730-3,760 yuan per tonne, unchangedDeclining iron ore prices weighed on sentiment in the rebar futures market, resulting in the benchmark contract ending the day about 1% lower than Wednesday's closing price, sources said. Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao was at $93.31 per tonne on Wednesday, down $32.46 per tonne - or...