DAILY: China's spot rebar prices decline to 8-mth low

China's rebar prices in both spot and futures markets lost further ground on July 13 amid downbeat market sentiment, while spot trading for the long steel product also touched a multi-month low due to disruptions caused by recent typhoons and the ongoing summer lull.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,275/tonne ($482/t) on Monday, down by a larger Yuan 12/t from last Friday and hitting the lowest level in nearly eight months. In the derivatives market, ferrous commodities all posted moderate declines yesterday. The main contracts of coking coal