DAILY: China's spot rebar prices, sales rally on pre-holiday restocking

China's spot rebar prices gained mildly on April 27, while spot trading activity for steel longs including rebar also mounted as some end-users replenished stocks ahead of the country's upcoming May Day holiday over May 1-5, Mysteel learned.

The national price of HRB400E 20mm dia rebar increased by Yuan 6/tonne ($0.9/t) on day to register Yuan 3,397/t including the 13% VAT on Monday, marking the highest level since mid-August last year, according to Mysteel's assessment. In the derivatives market, the most-traded rebar contract for October delivery on the Shanghai Futures