DAILY: China's rebar prices, spot trading retreat further

China's spot rebar prices moved lower on June 3 in line with losses seen in Shanghai rebar futures, and spot trading activity for the long steel product on the same day weakened further, Mysteel Global learned.

The national price of HRB400E 20mm dia rebar assessed by Mysteel stood at Yuan 3,421/tonne ($505/t) including the 13% VAT on Wednesday, lower by another Yuan 7/t from the day prior. In the derivatives market, the most-traded rebar contract on the Shanghai Futures Exchange for October delivery closed the daytime trading