DAILY: China's rebar market wobbles, trading hovers low

China's rebar market continued to wobble within a tight range on January 26, with both spot and futures prices of the commodity moving up a smidge. Spot trading for construction steel including rebar dipped lower on the same day, hovering below 80,000 tonnes/day for the fifth straight working day.

Although downstream demand remained weak due to widespread rain and snow across the country, firm raw material prices continued to offer some support to domestic rebar prices on the cost front, Mysteel Global noted. The main futures contracts for coking coal and coke on the Dalian Commodity Exchange staged another recovery on Monday, while the