DAILY: China's rebar price slips further, spot sales at 5-m low

China's national price of HRB400E 20mm dia rebar under Mysteel's assessment declined further on September 21, down by another Yuan 16/tonne ($2.2/t) to Yuan 3,873/t including the 13% VAT, while spot sales of construction steel kept falling for three working days to hit a near five-month low.

On Thursday, 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 registered 112,455 tonnes/day, plunging by 21,137 t/d or 15.8% from the prior day. The overall sentiment in the domestic construction steel market stayed cautious throughout yesterday mainly due