China’s domestic and export prices for rebar were flat on Tuesday June 16 amid low trading activity as a result of bad weather, with rising futures keeping the market supported. - Eastern China (Shanghai): 3,570-3,600 yuan ($503-508) per tonne, unchanged Rain persisted in eastern China while some parts of the northern and southern regions experienced high temperatures, which shortened the working hours at construction sites. But sellers in the spot market kept prices flat amid rising futures. A gradually recovering housing market is giving sellers some optimism about demand, market sources said. New construction starts by floor area in the January-May period fell by 12.8% on the year to 695.33 million square meters. But the rate of decrease is 5.6 percentage points lower than that calculate for the first four months of this year, according to data released by National Bureau of Statistics (NBS).
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