DAILY: China's rebar prices rise for 3rd day, sales drop further

China's rebar prices rose for the third consecutive day as of July 4 as positive market sentiment continued, but spot trading for construction steel retreated further amid the traditional off-season.

On Friday, the national price of HRB400E 20mm diameter rebar under Mysteel's assessment increased by Yuan 17/tonne ($2.4/t) on day to Yuan 3,263/t including the 13% VAT. Meanwhile, rebar contracts on the Shanghai Futures Exchange also extended gains on Friday, with the most-traded October contract rising by Yuan 7/t from the