DAILY: China's spot rebar prices, trading both retreat

China's domestic rebar market turned lower on July 24, with both spot prices and trading activity retreating after the brief gains logged the previous day, Mysteel Global learned.

The national price of HRB400E 20mm dia rebar assessed by Mysteel stood at Yuan 3,275/tonne ($484/t) including the 13% VAT last Friday, falling by Yuan 9/t from the day prior and erasing a modest gain logged on Thursday. In the derivatives market, the most-traded rebar contract on the Shanghai Futures Exchange