Spot rebar prices in
China continued to fall on Tuesday on weak demand in northern China due to the
freezing winter weather.
Wire rod prices also fell by 10-20 yuan to reach 4,120-4,200
yuan/MT. “Demand from construction projects in northern China is very low
due to the cold weather”, said a Chinese trader.
The benchmark steel rebar contract for May delivery on the
Shanghai Futures Exchange also went down by $3/MTto reach 4,167 yuan/MT on Tuesday signaling weak
demand for steel in the market.
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