DAILY: China's rebar prices extend downtrend amid subdued demand

China's rebar market lost more ground on January 21, with both spot and futures rebar prices dropping further, while spot transactions for construction steel items continued to hover around a one-year low on the same day.

The national price of HRB400E 20mm dia rebar came in at Yuan 3,317/tonne ($476/t) including the 13% VAT on Wednesday, down by another Yuan 8/t from the prior day, according to Mysteel's assessment. In tandem, major ferrous futures in China posted varying losses yesterday, with the most-traded rebar futures contract for next