DAILY: China's spot rebar prices nudge up, sales dip

China's spot rebar prices saw a small rise on January 15 after staying flat for two days, while spot sales of long steel products including rebar fell back again amid rising market caution the same day.

In the spot market, the national price of HRB400E 20mm dia rebar came in at Yuan 3,345/tonne ($480/t) including the 13% VAT on Thursday, inching up by Yuan 3/t from one day prior, according to Mysteel's assessment. In contrast, the most-traded rebar futures contract for next May delivery on the Shanghai Futures