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DAILY: China’s rebar price falls further on tepid trading

On December 1, China’s rebar price continued to decrease and long steel sales saw a steep decline as speculative buying in the spot market turned soft and procurement demand from end-users also slowed down, Mysteel Global noted.
China’s national price of HRB400 20mm dia rebar, a bellwether of the domestic steel market development, lost Yuan 20/tonne ($3/t) on day to Yuan 4,079/t including the 13% VAT as of December 1, showing a downtrend this week, according to Mysteel’s data. On Tuesday, the daily trading volume of construction steel

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