DAILY: China's rebar prices rangebound, trading retreats

China's rebar prices in both spot and futures markets ticked slightly higher on November 7, while spot trading for construction steel items including rebar saw a marked retreat on the same day.

Mysteel assessed the national price of HRB400E 20mm dia rebar up by Yuan 5/tonne ($0.7/t) on day at Yuan 3,225/t including the 13% VAT on Friday, rising for the second day straight. In parallel, rebar futures also eked out small gains on Friday, but the prices faltered in the afternoon as sentiment softened. The most-traded rebar