DAILY: China's rebar prices, spot trading both retreat

China's spot and futures rebar prices both lost ground on April 28, while spot trading activity for the long steel product also retreated slightly due to softer market sentiment and heavy rainfall across the country's southern regions, Mysteel Global learned.

The national price of HRB400E 20mm dia rebar assessed by Mysteel stood at Yuan 3,391/tonne ($496/t) including the 13% VAT on Tuesday, lower by Yuan 6/t from the prior day. China's ferrous futures prices fell across the board yesterday, with the most-traded rebar contract on the Shanghai Futures Exchange for October