DAILY: China's rebar prices remain rangebound amid slow demand recovery

China's rebar prices remained rangebound on February 26. Spot transactions have been subdued as many construction sites are set to resume work after the Chinese Lantern Festival on March 3, resulting in a slow recovery of downstream demand following the nine-day Chinese New Year (CNY) holiday ending on February 23, Mysteel Global noted.

The national price of HRB400E 20mm dia rebar came in at Yuan 3,305/tonne ($483/t) including the 13% VAT on Thursday, inching up by Yuan 3/t from one day prior, according to Mysteel's assessment. Sparse trading in the physical market also led to a further accumulation in finished steel inventories at both Chinese