DAILY: China's rebar prices firm, spot trading slumps

China's spot and futures rebar prices both extended gains on April 23, while spot trading activity for the long steel product slumped as a wait-and-see attitude prevailed in the market, Mysteel Global learned.

The national price of HRB400E 20mm dia rebar assessed by Mysteel stood at Yuan 3,392/tonne ($497/t) including the 13% VAT on Thursday, higher by Yuan 6/t from the prior day and rising for the ninth consecutive workday. Fundamentals data showed improvement this week, with rebar inventories across commercial warehouses in China's