DAILY: China's rebar prices retreat on thin sales

China's national price of HRB400E 20mm dia rebar under Mysteel's assessment declined slightly to Yuan 3,891/tonne ($544/t) including the 13% VAT as of July 28, down Yuan 6/t on day and ending the continuous rally over the prior eight working days with thin sales in the physical market.

Last Friday, the spot trading volume of construction steel comprising rebar, wire rod and bar-in-coil among the 237 Chinese trading houses under Mysteel's regular tracking came in at 120,701 tonnes/day, sliding for the third day by another 19,657 t/d or 14% from the previous day. Domestic steel demand from end-users