Eastern China (Shanghai): 3,840-3,880 yuan ($574-580) per tonne, down 40-50 yuan per tonne
Northern China (Beijing): 3,840-3,870 yuan per tonne, down 20 yuan per tonne
Billet prices in Tangshan have dropped over the past two days due to weaker demand and lower prices for downstream products.
Rebar futures were lower than Thursday’s settlement price of 3,797 yuan per tonne throughout the trading day on Friday.
The combination of lower billet prices and falling futures led to bearish sentiment...