DAILY: China's rebar price, spot sales both slip further

China's national price of HRB400E 20mm dia rebar under Mysteel's assessment slipped further by July 10, down by a larger Yuan 32/tonne ($4.4/t) from last Friday to Yuan 3,802/t including the 13% VAT, while trading activities of construction steel in the physical market also waned further.

On Monday, 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 eased by 1,521 tonnes/day or 1.2% from last Friday to sit low at 129,320 t/d. Following the weakening futures prices of major ferrous commodities across China including steel and iron ore throughout yesterday, over a