Steel rebar futures fell toward CNY 3,010 per ton after retreating from three-week highs, as persistently weak demand in China, the world’s top consumer, weighed on prices. Chinese steelmakers faced deteriorating margins amid a five-year property downturn, while industry data showed daily crude steel output fell 11% in July from the previous month to 2.48 million tons and daily hot metal production declined 2.2% to 2.2 million tons. Falling real estate values, financially strained households and heavily indebted developers continued to undermine construction demand, while growing protectionist measures abroad constrained export opportunities for Chinese mills.