DAILY: China's rebar prices rise further amid firmer cost support

China's rebar prices in both spot and futures markets extended the uptrend on June 1 amid strengthening support from the cost side, while spot transactions for construction steel items including rebar also posted a marked rise on the same day.

The national price of HRB400E 20mm dia rebar gained a further Yuan 8/tonne ($1.1/t) from last Friday to reach Yuan 3,431/t including the 13% VAT on Monday, and the price of Q235 150mm square billet in Tangshan in North China's Hebei province also rose by Yuan 10/t on day to Yuan 3,030/t EXW