DAILY: China's rebar prices pull back, trading slumps

China's rebar prices declined slightly in the spot market on January 30, while the daily trading volume of construction steel including rebar plunged below 60,000 tonnes/day, Mysteel Global noted.

The market retreat was led by a slide in rebar futures prices in Shanghai. The most-traded rebar contract on the Shanghai Futures Exchange for May delivery closed the daytime session at Yuan 3,128/tonne ($450/t) last Friday, down 0.48% from Thursday's settlement price. The softening futures throughout the day drove rebar