China's domestic rebar prices rose sharply on Monday May 31 following strong gains in the billet market over the weekend, but demand decreased in response to the increases.
Domestic
Eastern China (Shanghai): 5,000-5,030 yuan ($785-790) per tonne, up by 170 yuan per tonne
A $6-trillion budget for the United States' fiscal year 2022 unveiled by President Joe Biden last Friday led to bullish sentiment in commodity markets.
Spot rebar prices moved up...