DAILY: China's rebar prices fall further, spot trading at over 1.5-m low

China's rebar spot and futures prices both extended their weak correction on May 20, while spot trading activity for the long steel product also retreated amid thin end-user buying interest, Mysteel Global learned.

The national price of HRB400E 20mm dia rebar assessed by Mysteel stood at Yuan 3,440/tonne ($506/t) including the 13% VAT on Wednesday, lower by Yuan 11/t from the day prior and falling for a sixth consecutive workday. In the derivatives market, persistent softness in futures weighed on market sentiment. The most-traded