DAILY: China's rebar prices slip further on thin sales

China's national price of HRB400E 20mm dia rebar under Mysteel's assessment slipped further to Yuan 3,765/tonne ($516/t) including the 13% VAT as of August 28, losing by another Yuan 15/t from last Friday due to its thin sales in the physical market.

On Monday, the daily 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 142,478 tonnes/day, down for the fourth working day by 1,120 t/d from last Friday. Construction steel demand from end-users remained poor with