DAILY: China's spot rebar prices extend uptrend, sales recover

China's spot rebar prices continued to post mild gains on December 22 amid warmer market sentiment, while spot sales of long steel items including rebar rebounded sizably on the same day.

In the spot market, the national price of HRB400E 20mm dia rebar increased for the fifth consecutive working day to Yuan 3,328/tonne ($473/t) including the 13% VAT on Monday, higher by Yuan 3/t from last Friday, according to Mysteel's assessment. Rebar futures prices in China also recorded modest rises the same day,