China's domestic rebar prices tumbled further on Tuesday June 22 on weakening demand caused by falling futures.
Domestic
Eastern China (Shanghai): 4,800-4,840 yuan ($743-749) per tonne, down by 80 yuan per tonne
The October rebar futures contract traded below Monday's settlement price of 4,991 yuan per tonne throughout Tuesday, which kept the spot market bearish.
Buyers booked limited quantities and waited for prices to drop further while sellers competed with one another by lowering their prices to generate more sales.
A trader in Shanghai...