DAILY: China rebar prices dip, sales recover post-holiday

China's rebar prices saw modest declines in both the spot and futures markets on June 22, the first working day after the Dragon Boat Festival holiday, as subdued downstream demand continued to weigh on market sentiment, while spot transactions for the long steel product recovered on the same day.

On Monday, the national price of HRB400E 20mm dia rebar declined for the fourth consecutive working day by Yuan 16/tonne ($2.4/t) from last Thursday to Yuan 3,345/t, according to Mysteel's assessment. In the derivatives market, the most-traded October rebar contract on the Shanghai Futures Exchange also declined by 0.22% from last Thursday's