DAILY: China's rebar prices retreat, trading at 2.5-m low

China's rebar market had been on a rollercoaster ride in the first two days of this week, with its spot and futures prices slumping again on Tuesday after a short-lived jump on Monday. Spot trading volume for construction steel items including rebar also pulled back to touch a 2.5-month low on Tuesday.

The national price of HRB400E 20mm dia rebar under Mysteel's assessment came in at Yuan 3,441/tonne ($507/t) including the 13% VAT on Tuesday, down by Yuan 26/t and bringing Monday's rally to an abrupt end. In the derivatives market, the most-traded rebar contract for October delivery on the Shanghai Futures Exchange lost a marked 2.1% to