DAILY: China's rebar market gains steam amid better sentiment

After a two-day drop, China's spot rebar prices posted mild gains on January 29 in line with rising futures prices of major ferrous commodities, while buying activities for long steel products including rebar also rebounded amid improved market sentiment the same day.

Main futures contracts of coking coal and coke on the Dalian Commodity Exchange posted sharp rises yesterday, jumping by 3.93% and 3.2% on day respectively. Meanwhile, the price of the most-traded rebar futures contract for May delivery on the Shanghai Futures Exchange closed the daytime trading session at Yuan