DAILY: China's rebar prices retreat, but sales inch up

China's national price of HRB400E 20mm dia rebar under Mysteel's assessment retreated from the previous days' gains on June 20, losing Yuan 18/tonne ($2.5/t) on day to Yuan 3,876/t including the 13% VAT, while spot sales of construction steel saw a marginal pick-up on the same day.

On Tuesday, the spot trading volume of construction steel comprising rebar, wire rod and bar-in-coil among the 237 Chinese trading houses under Mysteel's tracking moved up by a small 4,714 tonnes/day or 3.3% on day to 146,604 t/d. In line with the weakening rebar futures contracts on the Shanghai Futures Exchange (SHFE) throughout yesterday,