DAILY: China's rebar price, spot sales both edge up

China's national price of HRB400E 20mm dia rebar under Mysteel's assessment stayed on uptrend on November 13, up by another Yuan 16/tonne ($2.2/t) from November 10 to hit Yuan 4,001/t including the 13% VAT,its highest level since late April. On the same day, spot sales of construction steel also rebounded from the previous working day's loss.

On Monday, the spot trading volume of construction steel comprising rebar, wire rod and bar-in-coil among the 237 Chinese trading houses Mysteel regularly tracks came in at 152,898 tonnes/day, moving up modestly by 11,209 t/d or 7.9% from last Friday. It's worth noting that though the spot trading volume recovered a bit yesterday, more