DAILY: China's spot rebar prices inch lower, trading rebounds

Chinese spot rebar prices experienced a slight decline on March 6, following a price cut by one domestic mill, Mysteel Global learned. Mysteel's survey showed that a construction steel mill in South China lowered its list prices for major products by Yuan 20/tonne ($3/t) to Yuan 3,245-3,475/t, ex-works and including VAT.

The national price of HRB400E 20mm dia rebar assessed by Mysteel stood at Yuan 3,300/t or $479/t, including the 13% VAT, last Friday, edging down by Yuan 1/t from the prior day. While the pressure in rebar fundamentals remained, domestic futures prices of this long steel product showed some strength later