DAILY: China's spot rebar prices dip further, trading remains dull

China's spot rebar prices continued their downward trajectory on July 22, while trading activity for the long steel product slumped the same day amid persistently weak end-user demand, Mysteel Global learned.

The national price of HRB400E 20mm dia rebar assessed by Mysteel stood at Yuan 3,277/tonne ($484/t) including the 13% VAT on Wednesday, edging lower by Yuan 2/t from the day prior and falling for a third consecutive day. In the derivatives market, the most-traded rebar contract on the Shanghai Futures Exchange