China's domestic prices further edged lower on Friday May 24 amid weakening demand from stockists.
Domestic Eastern China (Shanghai): 4,030-4,070 yuan ($583-589) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,950-3,990 yuan per tonne, narrowed down 10 yuan per tonneStockists have become increasingly bearish on spot demand from June onwards because of the negative impact of warmer weather on downstream construction activities. They have cut their inventory replenishment rates and this has dampened prices, market sources...