China's rebar prices continued to fall on Monday June 10 in both the domestic and export markets amid declining futures and intensifying pressure to sell.
Domestic Eastern China (Shanghai): 3,870-3,900 yuan ($560-564) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 3,800-3,840 yuan per tonne, down 40-50 yuan per tonneA price drop in the billet market over the weekend, coupled falling futures on Monday, weighed heavily on spot rebar prices.Several end users raised their procurement rates to replenish their inventories because they did not...