China's domestic rebar prices moved up on Friday January 25 amid gains in the billet and futures markets, but those in the export segment remained flat on weak demand.
Domestic Eastern China (Shanghai): 3,710-3,750 yuan ($546-552) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,700-3,740 yuan per tonne, up 30-40 yuan per tonneSteel billet and rebar futures both rose in comparison with a day earlier, encouraging sellers in the spot market to raise their offers.Buyers maintained their low procurement rates due to their decreasing consumption of the product.Prices in eastern...