China's rebar prices were flat on Friday July 5 with market participants taking a wait-and-see approach in spite of lower futures.
Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($578-582) per tonne, unchangedNorthern China (Beijing): 3,920-3,950 yuan per tonne, unchangedRebar futures fell during the day, but the decrease was attributed not to developments in the long steel market but to the downward spiral of the iron ore contract.As such, the decreases posted by the rebar contract did not have much of an impact on the spot market, sources...