DAILY: China's rebar prices slip further, cautious sentiment prevails

China's rebar prices in both spot and futures markets lost more ground on August 3 amid the prevalent cautious sentiment, while spot trading activity for the long steel product ticked up slightly as traders offered more discounts to conclude deals, Mysteel learned.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,216/tonne ($474/t) on Monday, falling by a larger Yuan 18/t from last Friday and hitting a new low since late October last year. The price has remained on a downward trend for more than a week, Mysteel Global notes. In