DAILY: China's rebar price, sales fall further post-holiday

China's national price of HRB400E 20mm dia rebar assessed by Mysteel declined for the third straight working day on June 25, a make-up working day in China after the Dragon Boat Festival holiday over June 22-24, slipping by a larger Yuan 35/tonne ($4.9/t) from that on June 21, while spot sales of construction steel including rebar among the 237 traders' warehouses Mysteel follows also eased further by 16.6% from the pre-holiday level.

On Sunday, the spot rebar price softened to Yuan 3,829/t including the 13% VAT, and the daily trading volume of construction steel also comprising wire rod and bar-in-coil among the surveyed traders lost 23,069 tonnes/day from last Wednesday to 115,875 t/d, hitting a one-month low. Market sources remarked that daily