DAILY: China's rebar market rebounds slightly amid improving sentiment

China's rebar market gained some strength on November 28, with both spot and futures rebar prices logging certain increases, while spot transactions for construction steel items also picked up as better sentiment prompted more end-buyers to enter the market for stock replenishment.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,291/tonne ($465/t) including the 13% VAT on Friday, edging up by Yuan 3/t on day after two consecutive days of declines. In the derivatives market, the most-traded rebar contract for next January delivery on the Shanghai Futures Exchange also notched gains, closing