DAILY: China's rebar market loses steam

China's rebar market lost momentum on July 20, with prices in both spot and futures markets posting moderate declines. Meanwhile, spot transactions for the long steel product on the same day also trended downwards amid downbeat market sentiment.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,286/tonne ($484/t) on Monday, dropping by Yuan 10/t from last Friday. Two steelmakers in North China and one in East China on Monday lowered their list prices for long steel products by Yuan 20/t to Yuan 3,060-3,290/t, ex-works and