China's rebar prices declined significantly in both the domestic and export markets on Friday November 23 amid plunging futures.
Domestic Eastern China (Shanghai): 3,920-3,950 yuan ($565-570) per tonne, down 70 yuan per tonneNorthern China (Beijing): 3,780-3,800 yuan per tonne, down 40-50 yuan per tonneThe sharp drop in the paper market during the day intensified the bearish sentiment in the spot market.Buyers scaled back procurement rates, which weighed on the spot rebar market.Prices in east China have fallen by a total of 400-420 yuan per...