DAILY: China's rebar prices soften, sales pick up

China's spot rebar prices lost more ground on December 26 in line with falling rebar futures in the derivatives market, while sales of construction steel including rebar in the physical market saw a modest rebound on the same day.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,316/tonne ($473/t) including the 13% VAT last Friday, lower by a larger Yuan 10/t from the previous day. Domestic rebar futures posted broad losses during the morning trading session on Friday, pressured by its weak fundamentals, but the market recovered some of its losses in