DAILY: China's rebar prices slip further, sales near one-year low

China's rebar market lost more ground on January 20, with both spot and futures rebar prices trending lower. Spot transactions of construction steel items on the same day also neared a one-year low as heavy snow and icy roads disrupted logistics and halted construction activities in several parts of China.

In the spot market, Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,325/tonne ($477/t) including the 13% VAT on Tuesday, down by another Yuan 11/t from Monday. In the derivatives market, the price of the most-traded rebar futures contract for next May delivery on the Shanghai Futures Exchange also