DAILY: China's rebar market jumps on better sentiment

China's rebar market gained steam on November 24, with both spot and future rebar prices leaping higher amid bullish market sentiment. Meanwhile, trading volume of construction steel products including rebar in the spot market also spiked the same day.

On the macro front, the market maintained strong expectations for new supportive measures and policies to be introduced from China's Central Economic Work Conference in December. Besides, remarks of New York Fed President John Williams last Friday – suggesting that the Fed can still cut the interest rate "in