DAILY: China's rebar prices decline further, sales also retreat

China's rebar prices declined for the fifth consecutive working day in both the spot and futures markets on June 23, as languishing downstream demand kept weighing on the market’s sentiment, while spot transactions for the long steel product pulled back again the same day after a mild post-holiday restocking on June 22.

The national price of HRB400E 20mm dia rebar under Mystee's assessment slipped by another Yuan 16/tonne ($2.4/t) on day to sit at Yuan 3,329/t on Tuesday, marking its lowest level since April 14. In the derivatives market, major ferrous commodities lost further steam on Tuesday, with the main coke futures contract on the Dalian Commodity Exchange leading the