Eastern China (Shanghai): 3,910-3,950 yuan ($566-572) per tonne, down 50 yuan per tonne
Northern China (Beijing): 3,600-3,630 yuan per tonne, down 120 yuan per tonne
Prices failed to breach the 4,000-yuan-per-tonne mark, with buyers cutting their procurement rates after the market surged on Monday. This put pressure on prices, sending them downward, market sources said.
Rebar futures also had a weak morning, which strengthened buyers’ resolve to just wait and...