DAILY: China's rebar prices down further, sales dull

China's spot rebar prices continued the downtrend on July 8, mainly due to thin demand from end-users and further weakening of rebar futures prices in Shanghai, Mysteel Global learned.

On Tuesday, the national price of HRB400E 20mm dia rebar under Mysteel's assessment came in at Yuan 3,243/tonne ($452/t) including the 13% VAT, down for the second working day by a tiny Yuan 2/t on day. Rebar prices in the derivative market also lost ground, with the most-traded contract on the Shanghai