DAILY: China's rebar market stays largely steady

China's rebar market operated stably on March 16, with both spot and futures rebar prices fluctuating within a narrow range. Spot transactions for construction steel in China also showed limited variation amid lukewarm market sentiment the same day.

The national price of HRB400E 20mm dia rebar came in at Yuan 3,338/tonne ($485/t) including the 13% VAT on Monday, dipping by Yuan 1/t from last Friday, according to Mysteel's assessment. In the derivatives market, the price of the most-traded rebar contract for May delivery on the Shanghai Futures Exchange edged down