DAILY: China's spot rebar prices slip further, sales rebound mildly

China's spot rebar prices extended declines on May 19 amid downbeat market sentiment reflected by lower futures prices, while spot transactions for construction steel including rebar recovered mildly on the same day.

The national price of HRB400E 20mm dia rebar was assessed by Mysteel at Yuan 3,451/tonne ($506/t) including the 13% VAT on Tuesday, falling by another Yuan 17/t on day and tracing a continuous downtrend for one week. In the derivatives market, the most-traded rebar futures contract for October delivery on the Shanghai Futures