CHINA REBAR: Overseas buyers bid low on international billet loss

Rebar importers outside China have been asking lower prices due to the decrease in billet prices in the international market, while China's domestic rebar prices were flat on Friday March 27 amid steady trading.

Eastern China (Shanghai): 3,470-3,500 yuan ($490-495) per tonne, unchanged
Northern China (Beijing): 3,380-3,400 yuan per tonne, unchanged
The weak futures led to lower buying interest in spot market on Friday.
Customers were planning to wait for lower prices next week, so cut their procurement rates today, some traders told Fastmarkets.

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