DAILY: China's rebar prices fall to 2-w low, spot trading still tepid

China's rebar spot and futures prices both extended losses on May 22, and spot trading activity for the long steel product on the same day still hovered low despite a slight rebound, Mysteel Global learned.

The national price of HRB400E 20mm dia rebar assessed by Mysteel stood at Yuan 3,432/tonne ($505/t) including the 13% VAT last Friday, lower by Yuan 3/t from the day prior and marking a downtrend for the eighth consecutive workday. In the derivatives market, the continued softness in rebar futures weighed heavily