DAILY: China's rebar prices, spot sales extend losses

China's rebar prices maintained the downtrend for four working days straight as of October 15, while spot sales of construction steel including rebar also sank lower as already tepid downstream demand was further dampened by recent rainy weather across many parts of the country.

On Wednesday, the national price of HRB400E 20mm dia rebar under Mysteel's assessment extended its losing streak by another fall of Yuan 11/tonne ($1.5/t) to sit at Yuan 3,213/t, the lowest level since July 1. In the derivatives market, major steel futures prices continued their downward trajectory too, with the most-traded rebar futures