DAILY: China's rebar prices, sales extend downtrend

China's rebar market retreated further on November 20, with both spot and futures rebar prices losing ground, while spot sales of construction steel items including rebar also declined for the third day straight after a surge on November 17.

The national price of HRB400E 20mm dia rebar came in at Yuan 3,266/tonne ($460/t) including the 13% VAT on Thursday, down by another Yuan 10/t from the prior day, according to Mysteel's assessment. In tandem, major rebar futures in China posted larger losses, with the most-traded rebar futures contract for next January