CHINA STEEL WRAP: Prices mostly unchanged on lower official PMI - TopicsExpress

CHINA STEEL WRAP: Prices mostly unchanged on lower official PMI 1 july 2013 In Beijing, grade III rebar was traded at 3,320-3,370 yuan ($537-545) per tonne, unchanged since last Thursday. In Shanghai, the same product also held steady for a second day at 3,220-3,300 yuan ($520-533) per tonne. “Shagang kept its early July list prices unchanged today and gave no rebate for June cargoes. Traders were unwilling to cut their offers as a result,” a Shanghai-based analyst said. Economic data released on Monday morning hit market confidence. China’s official purchasing managers’ index (PMI) for the manufacturing sector slid to 50.1 points in June from May’s

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