China domestic rebar prices fell on Monday March 30 on pessimism over the recovery of demand in the country after its central bank cut the rate on seven-day reverse repurchase agreements by 20 basis points - the largest in nearly five years.
Eastern China (Shanghai): 3,430-3,460 yuan ($483-488) per tonne, down 40 yuan per tonneThe People's Bank of China cut the seven-day reverse repo rate by 20 basis points from 2.4% to 2.2% while injecting 50 billion yuan into money market...