A weakening of rebar futures in China on Friday July 12 led to participants withdrawing from the spot market for the long steel product, resulting in a drop in trading activity and keeping prices at a standstill for a second day.
Domestic Eastern China (Shanghai): 3,980-4,000 yuan ($579-582) per tonne, unchangedNorthern China (Beijing): 3,880-3,910 yuan per tonne, unchangedTraders kept prices flat during the day to see whether rebar futures would pick up next week amid high iron ore prices. Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao was at $119.37 per tonne on Thursday, compared with $72.07 at the start of the year.But buyers are expecting rebar...