DAILY: China's rebar prices rise amid firmer cost support

China's rebar prices in both spot and futures markets gained moderately on March 12 after dipping for two consecutive days, while spot trading volume for construction steel items including rebar pulled back on the same day.

The national price of HRB400E 20mm dia rebar came in at Yuan 3,325/tonne ($483/t) including the 13% VAT on Thursday, up by Yuan 8/t from one day prior, according to Mysteel's assessment. The most-traded rebar futures contract for May delivery on the Shanghai Futures Exchange extended the uptrend, with the price gaining