Gains in the futures market failed to stimulate China's rebar prices on Thursday July 25, with sellers being under pressure to secure orders.
Domestic Eastern China (Shanghai): 3,920-3,960 yuan ($570-576) per tonne, unchangedNorthern China (Beijing): 3,880-3,910 yuan per tonne, unchangedWeak demand attributed to bad weather over the past week resulted in rebar inventory levels at mills and the spot market to increase, sources said.Mills across the country had 2.42 million tonnes of rebar in their inventories on Thursday - up 46,000 tonnes from a week earlier - while the spot market had 6.17 million tonnes - up 207,600 tonnes - a...