DAILY: China spot rebar prices fall to half-year low

China's rebar market opened the month on a prolonged downbeat note on July 1, with spot rebar prices falling by the 11th consecutive working day to hit a half-year low, while ferrous futures prices also declined across the board. Spot transactions of construction steel products remained subdued on Wednesday amid persistently weak downstream demand during the rainy season.

On Wednesday, the national price of HRB400E 20mm dia rebar under Mysteel's assessment fell by another Yuan 9/tonne ($1.3/t) to below the Yuan 3,300/t threshold at Yuan 3,291/t including 13% VAT, the lowest level since mid-December 2025. In the derivatives market, prices of major ferrous commodities in China fell across the board