DAILY: China rebar prices corrected after recent upswing

China's spot rebar prices declined on May 13, ending a more than two-week gaining streak. Spot trading volume of construction steel products on the same day remained below the 100,000 tonnes/day threshold despite a slight daily uptick.

On Wednesday, the national price of HRB400E 20mm dia rebar was assessed by Mysteel at Yuan 3,501/tonne ($515.6/t), including the 13% VAT, lower by Yuan 10/t on day, marking its first decline since April 28. Similarly in the derivatives market, the most-traded rebar futures contract for October delivery on the Shanghai Futures Exchange slid