DAILY: China's rebar market rebounds on positive macro signs

China’s rebar prices in both spot and futures markets strengthened on October 27, mainly supported by a warming macro environment, while spot sales of construction steel including rebar also picked up as more end-buyers returned to the market for procurement amid rising confidence.

On Monday, Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,234/tonne ($455/t) including the 13% VAT, moving higher by Yuan 15/t and rebounding from last Friday's Yuan 6/t drop. In the derivatives market, major ferrous commodities all logged gains yesterday, with the most-traded rebar futures contract on the