Eastern China's rebar prices dropped on Tuesday October 15 due to subdued demand and weakening futures, while those in the north held steady.
Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($519-523) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,570-3,600 yuan per tonne, unchangedSome traders stopped restocking due to narrowing margins. This, coupled with weak futures, weighed on rebar prices in eastern China.Demand in northern China was reported to be steady, which kept prices stable, according to sources.ExportFastmarkets' steel reinforcing...