China's rebar prices continued to experience big decreases in both the domestic and export markets on Monday March 26 following a sharp drop in the price of billet over the weekend.
Domestic Eastern China (Shanghai): 3,410-3,500 yuan ($540-554) per tonne, down 80-90 yuan per tonne Northern China (Beijing): 3,630-3,670 yuan per tonne, down 110-120 yuan per tonne Since late last Friday, the price of the major semi-finished steel product fell by over 200 yuan per tonne on weak demand and high inventory levels, which fueled market participants' pessimism, sources said. The big drop in prices for billet, coupled with subdued...