DAILY: China's spot rebar prices fall to 1.5-month low

China's spot rebar prices continued to move lower on June 9, in sync with losses in Shanghai rebar futures. Spot trading activity for the long steel product on the same day remained subdued despite a slight rebound, Mysteel Global learned.

The national price of HRB400E 20mm dia rebar assessed by Mysteel stood at Yuan 3,388/tonne ($500/t) including the 13% VAT on Tuesday, lower by another Yuan 11/t from the day prior and marking its lowest level since April 23. One steel mill in North China's Inner Mongolia cut its list prices