DAILY: China's spot rebar prices extend decline, trading largely steady

China's spot rebar prices remained weak on June 29, despite a mild recovery in rebar futures. Trading activity for construction steel items showed little improvement on the same day due to cautious appetite from downstream buyers.

On Monday, the national price of HRB400E 20mm dia rebar under Mysteel's assessment came in at Yuan 3,305/tonne ($486/t) including the 13% VAT, lower by another Yuan 6/t on day and marking a decline for the ninth consecutive workday. In the derivatives market, Dalian's coking coal futures surged by over 4% yesterday on