DAILY: China's rebar prices extend losses, trading rebounds

China's spot rebar prices fell for a fourth straight working day on January 6. However, spot trading activity for the long steel product picked up on the same day, as downstream buyers stepped up purchases for lower-priced cargoes, Mysteel Global learned.

The national price of HRB400E 20mm dia rebar assessed by Mysteel stood at Yuan 3,308/tonne ($474/t) including the 13% VAT on Tuesday, down by another Yuan 7/t from the day prior. Mysteel's survey showed that two domestic steelmakers lowered their list prices for rebar and wire rod by Yuan 20-50/t