China's rebar market softened on Monday August 26 amid escalating trade friction between the country and the United States, with both sides announcing tariffs against the other's products ahead of the weekend.
Domestic Eastern China (Shanghai): 3,640-3,670 yuan ($513-517) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,590-3,610 yuan per tonne, down 10-20 yuan per tonneThe Chinese government last Friday said that it would impose import tariffs of 5-10% on $75 billion worth of US products in stages from September 1.US President Donald Trump in response announced an additional duty of 5%...