Eastern China (Shanghai): 3,650-3,680 yuan ($518-522) per tonne, down 120 yuan per tonne
Northern China (Beijing): 3,640-3,660 yuan per tonne, down 90-100 yuan per tonne
High inventories, dropping raw material prices, and weakening demand in bad weather led to a pessimistic outlook in the rebar market, sources said.
Rebar stocks in major spot markets was 6.43 million tonnes on Thursday August 8, up 100,000 tonnes from a week earlier, according to a local industry information provider.
Fastmarkets’ index for iron ore...