CHINA REBAR: Prices drop on stock market rout after US meltdown

摘要

China’s domestic rebar prices fell on Tuesday March 17 on weakening stock and futures markets, following the March 16 meltdown in the United States. Eastern China (Shanghai): 3,500-3,540 yuan ($500-506) per tonne, down 20-30 yuan per tonne Northern China (Beijing): 3,380-3,420 yuan per tonne, down 10-20 yuan per tonne On March 16, US stock dropped 7.47% soon after opening, triggering a meltdown for the third time in eight days and fourth time since 1987.