China's Spot and futures rebar prices fall on low buying interest

Spot and futures rebar prices in China fall marginally on low buying interest, but sentiments remains positive.

   

Spot rebar prices in china stood at 4,300-4,450 yuan per tonne i.e down by 30 yuan from the previous close, while prices in Shanghai remained unchanged at 4,030-4,260 yuan per tonne. Prices of hot rolled coil (HRC) in Shanghai also went down by 30 yuan to reach at 4270-4280 yuan per tonne.

China's steel futures also fell on Thursday, after Chinese Premier Wen Jiabao pledged to maintain real estate price curbs, ending four straight days of increases. 

The most-traded October rebar contract on the Shanghai Futures Exchange lost 0.6 percent to a reach a low of 4,310 yuan ($680) per tonne on Thursday, after it hit a five-week high on Wednesday.