DAILY: China's spot rebar prices hold largely steady, sales rise

China's spot rebar prices remained largely stable on December 4, while rebar futures are seen racking up gains for the fifth consecutive working day. On the same day, transactions of construction steel items including rebar in the physical market saw a modest recovery.

On Thursday, Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,327/tonne ($471/t) including the 13% VAT, ticking down by Yuan 2/t from the prior day. The majority of steel mills held steady prices for their long steel products, Mysteel noted. As colder winter weather gripped many regions of China, weakening demand