DAILY: China's rebar market loses steam, sales extend downtrend

China's rebar market lost momentum on December 3, with prices in both spot and futures markets showing signs of softening. Meanwhile, trading volumes of construction steel items including rebar in the physical market dropped further on the same day, Mysteel learned.

The national price of HRB400E 20mm dia rebar came in at Yuan 3,329/tonne ($471/t) including the 13% VAT on Wednesday, inching down by Yuan 2/t from the prior day and ending a three-day gaining streak, according to Mysteel's assessment. Major ferrous futures in China also ran out of steam in tandem, with