DAILY: China's rebar market stays soft amid cautious sentiment

China's rebar prices in the physical market held largely stable on April 3 after dipping for three straight days, while spot transactions of long steel items including rebar eased further on the same day to sit well below the 100,000 tonnes/day mark, Mysteel Global noted.

The national price of HRB400E 20mm dia rebar stood unchanged on day at Yuan 3,329/tonne ($484/t) including the 13% VAT last Friday, ending a three-day decline, according to Mysteel's assessment. Market sentiment grew more cautious amid the still-weak steel fundamentals and protracted uncertainties surrounding the Mid-East conflict. Major ferrous derivatives recorded further losses last