DAILY: China's rebar prices extend downtrend, sales rebound

China's rebar prices in both spot and futures markets dropped further on December 8, while trading volume of construction steel products including rebar in the physical market recovered significantly on the same day.

In the spot market, the national price of HRB400E 20mm dia rebar lost ground for the fourth consecutive working day, down by a larger Yuan 19/tonne ($2.7/t) from Friday to sit at Yuan 3,307/t including the 13% VAT on Monday, according to Mysteel's assessment. In the derivatives market, futures prices of major