China's domestic rebar market picked up amid rising futures on Monday September 2, but export prices dropped on expectations of higher production this month due to looser steelmaking restrictions in Tangshan.
Domestic Eastern China (Shanghai): 3,590-3,620 yuan ($501-505) per tonne, up 30-50 yuan per tonneNorthern China (Beijing): 3,580-3,600 yuan per tonne, up 40 yuan per tonneRebar futures increased amid a strengthening of the iron ore contract, sources said. Spot prices also rose as a result of these gains though trading activity was affected by heavy rain in Shanghai.In Beijing, demand was said to be also not very strong because the construction sector is gradually winding down this month to...