DAILY: China's rebar prices soften further amid market weakness

China's rebar market continued to sour on December 12, with the long steel prices in both physical and futures markets notching losses amid cooling market sentiment and falling raw material prices, while spot transactions of the construction steel including rebar also pulled back due to slackening demand.

As the earlier optimism faded following the conclusion of China's key economic meeting on Thursday, the domestic steel market once again fell under the pressure of its weak fundamentals, Mysteel Global found. This, coupled with a broad decline in raw material prices, dragged rebar prices lower. Besides, China on Friday announced that it