DAILY: China's rebar prices hit 17-m high, spot trading recovers

China's rebar market started this week on an upbeat note, with both spot and futures prices extending bullish runs on May 11, while spot trading for construction steel products, including rebar, also rebounded amid recent market optimism.

On Monday, the national price of HRB400E 20mm dia rebar was assessed by Mysteel at Yuan 3,508/tonne ($516/t) including the 13% VAT, up by Yuan 19/t on day and exceeding the Yuan 3,500/t threshold for the first time since December 26, 2024. Mysteel noted that six Chinese steelmakers, including East China's Jiangsu-based Zenith