DAILY: China's rebar prices continue to dip, trading in slow recovery

China's rebar prices extended a small decline on March 4 amid a relatively weak fundamental, while spot transactions for construction steel items including rebar were recovering slowly the same day as construction sites gradually resumed work, Mysteel Global learned.

On Wednesday, the national price of HRB400E 20mm dia rebar under Mysteel's assessment stood at Yuan 3,299/tonne ($479/t) including the 13% VAT, dipping for the third straight day by Yuan 2/t from one day prior. In the derivatives market however, sentiment was still underpinned by market expectations towards China's annual "Two Sessions" meetings, which kicked off this Wednesday,