DAILY: China's rebar prices, sales ease further

Following a bullish run on Monday, China’s rebar prices and spot trading of construction steel were seen slide for the second consecutive day as of Wednesday, mirroring the cooling trend in the ferrous futures market.

Major ferrous futures in China including rebar lost ground yesterday as sentiment softened amid signs of potential de-escalation in the Middle East. The decline was led by a 1.83% slump in Dalian's main iron ore contract during the daytime session. The most-traded rebar contract for May delivery on the