The threat of higher import tariffs in the United States failed to have much of an effect on China's rebar market, with domestic prices holding steady on Monday May 6 despite tumbling futures.
Domestic Eastern China (Shanghai): 4,090-4,140 yuan ($607-615) per tonne, unchangedNorthern China (Beijing): 3,990-4,030 yuan per tonne, unchangedWhile rebar futures experienced a big decline during the day after US President Donald Trump threatened to raise tariffs on $200 billion worth of Chinese goods on Sunday, spot prices did not budge when market participants returned from their Labor Day break.Market sources attributed the stability to production curbs in China's steelmaking hub of Tangshan in the northern region this month. A few blast furnaces in the city...