DAILY: China's spot rebar prices fall further, trading sluggish

China's spot rebar prices continued to decline on June 24 amid subdued demand and a lackluster futures market, while trading activity for the long steel product remained sluggish on the same day, Mysteel Global learned.

The national price of HRB400E 20mm dia rebar assessed by Mysteel stood at Yuan 3,323/tonne ($489/t) including the 13% VAT on Wednesday, lower by Yuan 6/t from the day prior and marking the sixth consecutive day of declines. In the derivatives market, the most-traded rebar contract on the Shanghai Futures Exchange