CHINA REBAR: Domestic prices withdraw again on weak demand

摘要

China’s domestic rebar prices retreated on Thursday June 6 onsofter demand amid losses in the futures market.DOMESTIC- Eastern China (Shanghai): 3,890-3,930 yuan ($563-569) per tonne,down 30 yuan per tonne- Northern China (Beijing): 3,840-3,890 yuan per tonne, down 10yuan per tonneStockists cut prices to secure more sales ahead of the long weekend,with China observing a public holiday on Friday to mark the DragonBoat Festival. But buyers kept their procurement rates low amid apessimistic outlook for prices after the holiday.Prices in Shanghai are down 50 yuan per tonne this week, whilethose in Beijing are 40-60 yuan per tonne lower.