DAILY: China's rebar prices extend modest declines

China's rebar prices in both spot and futures markets extended modest declines on March 20, while spot trading for construction steel items including rebar picked up slightly as cheaper goods improved end-users’ buying appetite.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,329/tonne ($482/t) including the 13% VAT last Friday, down by Yuan 4/t from Thursday. In the derivatives market, the most-traded rebar futures contract for May delivery on the Shanghai Futures Exchange continued the downtrend, with the price losing 0.26% from the prior day's settlement