China's domestic rebar prices fell sharply on Monday May 24, following drops in futures prices and billet prices over the weekend, on news that China's National Development and Reform Committee (NDRC) had started a probe into commodity prices, causing mills to go into the red.
DomesticThe NDRC, along with the Ministry of Industry and Information Technology, State-owned Assets Supervision and Administration Commission, State Administration for Market Regulation and China Securities Regulatory Commission, jointly interviewed major companies in ferrous and base metals industries on Sunday May 23 to investigate the violent...