Chinese rebar prices weakened further on Thursday May 9 after United States President Donald Trump toughened his stance against China a day earlier and threatened to begin imposing higher tariffs on Chinese products as early as on Friday.
Domestic Eastern China (Shanghai): 4,060-4,100 yuan ($599-605) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,930-3,980 yuan per tonne, down 10-20 yuan per tonneTrump had over the weekend threatened to raise the US import tariff on $200 billion of Chinese goods from 10% to 25%, which initially had little effect on the Chinese steel market.But tensions between the world's two largest economies continued to simmer throughout this week, and although trade talks between both sides...