DAILY: China's spot rebar prices edge lower, sales improve slightly

China's spot rebar market extended its downtrend on July 27, as waning cost-side support and subdued end-user demand kept depressing rebar prices. Spot trading activity for the long steel item improved marginally on the same day, with some traders cutting offers to attract deals.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,271/tonne ($483/t) including the 13% VAT on Monday, lower by another Yuan 4/t from last Friday. On Monday, some steel mills in North China's Hebei and Tianjin initiated the second round of coke price cuts, which is scheduled to take