DAILY: China's rebar market loses ground amid dull demand

China's rebar market lost ground on January 19, with both spot and futures rebar prices posting drops amid cooling market sentiment and sluggish downstream demand, and spot transactions of construction steel items also experienced a notable decline on the same day.

In the spot market, the national price of HRB400E 20mm dia rebar came in at Yuan 3,336/tonne ($479/t) including the 13% VAT on Monday, down by Yuan 15/t from last Friday, according to Mysteel's assessment. In the derivatives market, the price of the most-traded rebar futures contract for next May delivery on the Shanghai