DAILY: China's rebar prices down further post holiday

China's national HRB400E 20mm dia rebar price under Mysteel's assessment slipped further on May 4, the first working day after the country's Labour Day holiday over April 29-May 3, down by Yuan 32/tonne ($4.6/t) from April 28 to Yuan 3,845/t including the 13% VAT, while spot sales of construction steel still hovered low despite a slight pick-up.

On Thursday, the daily trading volume of construction steel including rebar, wire rod and bar-in-coil among 237 Chinese traders under Mysteel's tracking inched up by 1,924 tonnes/day or 1.3% from April 28 to 155,448 t/d, with both immediate and speculative buying remaining at relatively low levels, according to market sources. Throughout