Eastern China (Shanghai): 4,000-4,050 yuan ($596-603) per tonne, down 50-70 yuan per tonne
Northern China (Beijing): 3,940-3,980 yuan per tonne, down 10-20 yuan per tonne
Buyers have been cutting their procurement rates since Tuesday due to recent price increases. They continued to limit their purchases on Wednesday, which pushed down prices.
Some in the market are expecting rebar futures to stop rising soon, with the most-traded October contract having risen continually since March 29.
The less bullish outlook...