DAILY: Buoyant sentiment lifts China's rebar market

China's rebar market strengthened yesterday as sentiment improved following a strong price rally of major ferrous commodities contracts. Mysteel's assessment showed that China's national HRB400E 20mm dia rebar price jumped by Yuan 29/tonne ($4/t) from last Friday, settling at Yuan 3,365/t including 13% VAT on Monday.

Meanwhile, the most-traded May rebar contract on the Shanghai Futures Exchange climbed Yuan 39/t or 1.23% from last Friday's settlement price to close the daytime trading session at Yuan 3,204/t. In the spot market, daily trading volumes of construction steel - including rebar, wire rod, and bar-in-coil - among the 237 trading