DAILY: China's rebar prices extend decline, sales rebound slightly

China's rebar prices in both spot and futures markets declined for the second consecutive day on May 27, while spot trading activities for construction steel items, including rebar, persisted at a low level despite a slight rebound from the previous day.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,422/tonne ($505/t) including the 13% VAT on Wednesday, dropping by a marked Yuan 19/t on day. In the derivatives market, major Chinese ferrous futures recorded losses across the board during Wednesday's daytime trading session, with the main contracts for coking