December 25, 2017 / 4:52 AM / 6 months ago

Chinese steel futures slip as demand weakens

* Physical steel weakens, pushing down futures

* Spot rebar prices drop 200 yuan since weekend

* Coking coal, coke futures fall; iron ore holds steady

SHANGHAI, Dec 25 (Reuters) - Chinese steel futures fell on Monday after two straight days of gains as demand weakened during the winter months.

Steel demand in the world’s top producer and consumer of the metal cooled as construction slowed with lower temperature in China’s northern regions.

The most active rebar contract on the Shanghai Futures Exchange dropped 2 percent to 3,832 yuan ($584.01) a tonne by the midday break.

“The physical market sales were not good, and prices kept falling ... many steel mills cut prices,” BOCI International Futures said in a note on Monday.

Rebar spot prices fell by 200 yuan to 4,300 to 4,550 yuan a tonne in Shanghai since the weekend, a trader said.

Coke dipped 0.5 percent to 2,086 yuan a tonne. Coking coal dropped 0.9 percent to 1,365.5 yuan.

Iron ore on the Dalian Commodity Exchange stood nearly steady at 538 yuan a tonne.

Iron ore for delivery to China’s Qingdao port .IO62-CNO=MB jumped nearly 5 percent to $76.36 a tonne on Friday, according to Metal Bulletin.

$1 = 6.5608 Chinese yuan Reporting by Ruby Lian and Aizhu Chen; Editing by Tom Hogue

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