Eastern China (Shanghai): 3,700-3,740 yuan ($544-550) per tonne, unchanged
Northern China (Beijing): 3,670-3,700 yuan per tonne, unchanged
Rebar futures dropped sharply after rising to a high of 3,700 yuan per tonne in the morning.
Sellers in the spot market took the movement as a sign that traders in the futures market are not too bullish, so they kept their prices unchanged.
Buyers continued to procure materials in...