China's rebar prices fell on Wednesday July 24 amid news that Vale was resuming operations at one of its iron ore complexes, which would raise supply of the steelmaking raw material.
Domestic Eastern China (Shanghai): 3,920-3,960 yuan ($570-575) per tonne, down 40-50 yuan per tonneNorthern China (Beijing): 3,880-3,910 yuan per tonne, down 20 yuan per tonneVale, the world's biggest iron ore producer, said late on Tuesday that it would resume dry-processing operations partially at its 13-million-tonnes-per-year Vargem Grande Complex in Brazil within 24 hours following the lifting of a suspension by the country's mining regulator.Ferrous futures fell during the day...