DAILY: China's spot rebar prices steady, sales drop

China's spot rebar prices remained largely stable on September 7, while weakening ferrous futures and a slow recovery in downstream demand dampened end-users' appetite for replenishment, leading to softening spot transactions for the long steel item.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,338/tonne ($497/t) on Monday, unchanged from last Friday when the price staged a short-lived rally, reflecting wavering sentiment among market participants. In the derivatives market, main contracts of coking coal and coke on the Dalian Commodity Exchange slumped by 2.57%