DAILY: China's rebar prices dip further, sales hit 2.5-m low

China's spot rebar prices continued to decline on May 21 amid bearish market sentiment, while spot trading volume for construction steel items including rebar also retreated for another day to hit the lowest level in 2.5 months.

Mysteel's assessment of the national price of HRB400E 20mm dia rebar came in at Yuan 3,435/tonne ($505/t) including the 13% VAT on Thursday, down by Yuan 5/t on day and prolonging the downtrend for the seventh workday in a row. On the Shanghai Futures Exchange, the most-traded rebar October futures contract stayed