DAILY: China's rebar market oscillates within tight range

China's rebar market was largely rangebound on November 21, with both spot and futures rebar prices eking out small gains, while spot sales of construction steel including rebar also picked up modestly after a three-day losing streak.

Mysteel's assessment of the national price of HRB400E 20mm dia rebar came in at Yuan 3,268/tonne ($460/t) including the 13% VAT on Friday, up by a marginal Yuan 2/t from the previous day. In the derivatives market, the most-traded rebar futures contract for next January delivery on the Shanghai Futures Exchange ended Friday's daytime trading higher by