Steel rebar in China edged down on June 9, dragged lower by sluggish overseas markets while the coming rainy season also fuelled worries about demand for the construction material.
China's steel products exports plunged 30% month-on-month in May to 4.4 million tonnes, data from the General Administration of Customs showed.
"In line with expectations, weak global demand fed through to lower exports of Chinese steel," commodities brokerage Jefferies wrote in a note.
Chinese producers and traders have also been unable to shift excess inventories to global markets due to the coronavirus crisis, it added.
Meanwhile, an early arrival of the rainy season in China's southern region, where construction activities are usually higher than other areas, leaves demand for construction materials uncertain.
Steel rebar on the Shanghai Futures Exchange, for October delivery, closed down 0.3% at 3,619 yuan/t ($510.93/t).
Hot-rolled coils, used in the manufacturing sector, settled unchanged at 3,545 yuan/t.
(Writing by Jessie Jia Editing by Harry Huo)
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