DAILY: China's steel prices extend downtrend

China's spot prices of major finished steel products including rebar and hot-rolled coil (HRC) continued to seek a bottom on October 27, in tandem with further losses in the futures market.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,298/tonne ($494.6/t) on Tuesday, falling for the fourth workday in straight by Yuan 6/t on day, while the assessment of the national price of Q235B 4.75mm HRC also slipped by a larger Yuan 17/t to settle low at Yuan 3,223/t. Two steelmakers in North