China's rebar prices regained some upward momentum on Thursday June 27 on early gains in the futures market.
Domestic Eastern China (Shanghai): 3,940-3,980 yuan ($573-579) per tonne, up 30-40 yuan per tonneNorthern China (Beijing): 3,800-3,840 yuan per tonne, up 30-40 yuan per tonneRebar futures rose to a high of 4,095 yuan per tonne in the morning, which led traders in the spot market to take their chances to raise prices.Buyers were not procuring as actively as they did a day earlier amid the high prices.Some of them even stopped buying in the afternoon when futures retreated, sources said. Market participants expect spot...