DAILY: China's rebar prices, spot trading rebound on improved sentiment

China’s spot rebar prices regained some momentum on April 29, in line with a broad recovery in ferrous futures. Spot trading activity for construction steel also picked up, as end-users who had stayed on the sidelines returned to the market to procure long steel, Mysteel Global learned.

On Wednesday, Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,396/tonne ($496/t) including 13% VAT, up by Yuan 5/t on day. In the derivatives market, China's ferrous futures prices rose across the board yesterday, with the most-traded rebar contract for October delivery on the Shanghai Futures Exchange closing the