China's rebar prices rose further on Friday May 17 on gains in the futures market, but trading activity has fallen to moderate rates with most buyers having procured enough materials earlier in the week.
Domestic Eastern China (Shanghai): 4,030-4,060 yuan ($586-590) per tonne, up 10-20 yuan per tonneNorthern China (Beijing): 3,960-4,020 yuan per tonne, up 10-20 yuan per tonneWhile some sources had expected on Thursday that trading in the spot market would be much more active during the day, this was not the case. Most market participants said trading activity was "merely moderate."A trader in Shanghai said that while it was a step up from Thursday, trading activity on Friday was "worse than Wednesday."She...