DAILY: China's rebar prices rally further, spot sales hit year high

China's rebar market maintained its upward momentum on April 20, with both spot and futures rebar prices extending gains amid buoyant market sentiment. On the same day, spot trading activity for long steel products, including rebar, also leaped to hit a one-year high.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,368/tonne ($494/t) including the 13% VAT on Monday, rising for the sixth consecutive workday by Yuan 15/t from last Friday. Riding the upbeat market mood, two steelmakers on Monday raised their list prices for long steel products by Yuan 20-30/t