CHINA STEEL WRAP: Prices complete three-week decline

May 04, 2012 | 06:55 AM |

China’s spot steel prices fell further this week on thin trading and poor sentiment, continuing the drop that began three weeks ago. Rebar prices in Shanghai dropped to 4,040-4,200 yuan ($640-666) per tonne on Friday May 4, which was 10 yuan lower than Thursday’s levels and 30 yuan lower than prices from a week earlier. In Beijing, rebar prices on Friday were 10 yuan lower than on Thursday, at 4,210-4,280 yuan per tonne. It was the first drop since....

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