China's rebar prices retreated in both the domestic and export markets on Wednesday August 21 on weaker demand.
Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($517-521) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,600-3,630 yuan per tonne, down 10-20 yuan per tonneBuyers cut their procurement rates further during the day amid an early round of decreases in the futures market, which weighed on rebar prices, sources said.Traders expecting more downside for prices amid the persistently...