DAILY: China's rebar prices drop further amid sluggish demand

China's rebar prices in both spot and futures markets extended their declines on June 8 amid subdued demand from downstream buyers, as reflected in reduced spot transactions for construction steel products on the same day.

The national price of HRB400E 20mm dia rebar declined for the fifth consecutive workday by Yuan 10/tonne ($1.6/t) from last Friday to sit at Yuan 3,399/t on Monday, according to Mysteel's assessment. In the derivatives market, the most-traded rebar contract for October delivery on the Shanghai Futures Exchange posted a marginal loss