China's domestic and export prices for rebar moved down on Wednesday May 29 on weakening demand and losses in the billet and futures markets.
Domestic Eastern China (Shanghai): 3,990-4,030 yuan ($577-583) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,920-3,960 yuan per tonne, narrowed downward by 10 yuan per tonneRebar demand in the construction sector is decreasing gradually amid rising temperatures, which weighs on prices. The price of billet also fell late on Tuesday as a result of thin buying interest....