DAILY: China's rebar prices maintain uptrend, but sales seesaw

China's rebar prices increased further on July 11 amid improved market sentiment and expectations, but spot trading for construction steel retreated again during the traditional off-season.

On Friday, the national price of HRB400E 20mm diameter rebar under Mysteel's assessment increased by another Yuan 26/tonne ($3.6/t) on day to Yuan 3,295/t including the 13% VAT. Nine mills across the country, including Shagang, hiked their ex-works prices for the long steel product by Yuan 20-80/t on the same