DAILY: China's rebar prices largely steady, spot sales recover

After rallying for nearly two weeks, China's spot rebar prices were largely stable on April 24, while spot transactions for construction steel including rebar rebounded as some end-buyers re-entered the market for the procurement of low-priced goods.

The national price of HRB400E 20mm dia rebar under Mysteel' assessment came in at Yuan 3,391/tonne ($496.6/t) including the 13% VAT last Friday, dipping by a tiny Yuan 1/t on day. On Friday, the most-traded rebar futures contract on the Shanghai Futures Exchange for October delivery stayed rangebound, closing the daytime session 0.06% higher at Yuan 3,191/t. In the