DAILY: China's rebar prices fall again, trading hits 5-m low

China's rebar prices in both spot and futures markets retreated again on August 10, while spot trading for construction steel including rebar plunged to a multi-month trough amid torrential downpours and strong gales brought by Typhoon Dolphin, which halted construction projects and disrupted logistics in East China the same day.

On Monday, the national spot price of HRB400E 20mm dia rebar was assessed by Mysteel at Yuan 3,217/tonne ($477/t) including the 13% VAT, edging down by Yuan 7/t on day and snapping a brief gaining streak that lasted for three workdays. In the derivatives market, the most-traded rebar contract on the Shanghai Futures