DAILY: China's spot rebar prices drop to 3.5-mth low, sales contract

China's spot rebar prices dipped further on June 25 amid prevalent bearish market sentiment, while spot trading volume for construction steel items including rebar also extended its decline on the same day.

The national price of HRB400E 20mm dia rebar declined for the seventh consecutive workday on Thursday to sit at Yuan 3,317/tonne ($488/t), down by Yuan 6/t on day and marking the lowest level since March 11 this year, according to Mysteel's assessment. In the derivatives market, futures prices of key ferrous commodities