DAILY: China's rebar prices tick up, spot sales retreat again

China’s rebar prices experienced a small rebound on October 17, while spot sales of long steel products including rebar, wire rod, and bar-in-coil pulled back again amid slow downstream demand and cautious trading sentiment.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,215/tonne ($451/t) on Friday, inching higher by Yuan 3/t on day and marking the first uptick after five consecutive working days of decline. Meanwhile, rebar futures also posted small gains for the second day, with the most-traded rebar contract on the Shanghai