DAILY: China's rebar market keeps largely steady

China's rebar market ran largely steady on November 12, with both spot and futures rebar prices fluctuating within a narrow range. Meanwhile, the physical market saw a mild uptick in trading volumes of long steel items including rebar on the same day.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,232/tonne ($454/t) including the 13% VAT on Wednesday, edging up further by Yuan 2/t on day, but the rise was smaller than Tuesday's Yuan 7/t gain. Major rebar futures in China also moved up slightly, with the most-traded rebar futures