China's domestic rebar prices tumbled on Monday November 26 on big losses in the billet and futures markets.
Domestic Eastern China (Shanghai): 3,750-3,800 yuan ($540-547) per tonne, down 150-170 yuan per tonneNorthern China (Beijing): 3,530-3,550 yuan per tonne, down 250 yuan per tonneThe billet market experienced a decline of 160 yuan per tonne over the weekend, which led to a deterioration of sentiment, and subsequently big drops for rebar futures.Traders slashed their prices in the hope of making more sales to draw down their inventories,...