Export prices for Chinese rebar picked up slightly on Thursday January 9 on an appreciating yuan, while the domestic market was flat amid inactivity.
Eastern China (Shanghai): 3,680-3,710 yuan ($530-534) per tonne, unchanged
Northern China (Beijing): 3,540-3,570 yuan per tonne, unchanged
Rebar demand remained persistently weak, which continued to weigh on prices during the day.
Traders did not lower their offers any further because current transaction prices were close to the amount they had spent to build up their inventories, sources said.
A gradual increase...