China's rebar prices were largely flat on Tuesday May 28 in both the domestic and export markets amid the mild movements of the long steel product's futures contract.
Domestic Eastern China (Shanghai): 4,000-4,050 yuan ($580-587) per tonne, unchangedNorthern China (Beijing): 3,920-3,970 yuan per tonne, widened downward by 10 yuan per tonneDespite the steady price increases for iron ore in the past couple of weeks, rebar futures did not react strongly. This resulted in some pessimism in the spot rebar market.Buyers cut their procurement rates in anticipation of lower...