DAILY: China's rebar prices dip post CNY holiday

The Chinese rebar market experienced a subdued start on February 24, the first working day after the extended Chinese New Year (CNY) holiday, as many participants had yet to resume business, Mysteel Global learns.

On February 24, Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,303/tonne ($478/t) including the 13% VAT, down by Yuan 1/t from February 14, the last working day before the nine-day holiday break. Mirroring a wait-and-see sentiment in the physical market, rebar futures fell in tandem with key