DAILY: China's spot rebar prices extend gains, trading slump

China's spot rebar prices extended gains for the third working day straight on December 2, while trading activity for the long steel item in the physical market retreated below the 100,000 tonnes/day threshold again after swift rises in the previous two days, Mysteel Global learned.

The national price of HRB400E 20mm dia rebar was assessed by Mysteel at Yuan 3,331/tonne ($471/t) including the 13% VAT on Tuesday, up by another Yuan 11/t on day, narrowing from the Yuan 29/t rise recorded on Monday. In tandem, the commodity's prices in the derivatives market advanced as well, with