DAILY: China's rebar market dips further amid low demand

China's rebar market extended weakness on January 5, with both spot and futures rebar prices posting further dips, while spot transactions for construction steel items including rebar retreated again following a brief rebound the previous day.

In the spot market, Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,315/tonne ($475/t) including the 13% VAT on Monday, edging down by a larger Yuan 6/t from the day prior. In the derivatives market, the price of the most-traded rebar futures contract for next May delivery on the