DAILY: China's rebar market loses steam amid cooling sentiment

China's rebar market lost momentum on December 11, with both spot and futures rebar prices dropping again after a short-lived one-day gain, as sentiment from the macroeconomic front cooled down, Mysteel Global noted.

As China's two-day Central Economic Work Conference concluded on Thursday, the focus of the domestic steel market shifted back to its fundamentals, which stayed relatively weak due to contracting demand and diminishing cost-side support. The futures prices of major ferrous commodities in China witnessed broad losses yesterday, with main contracts