DAILY: China's spot rebar prices recover, trading jumps to 2-w high

China's rebar prices in both spot and futures markets staged a modest recovery on June 12, while spot trading activity for the long steel product on the same day rebounded noticeably amid improved market sentiment, Mysteel Global learned.

The national price of HRB400E 20mm dia rebar assessed by Mysteel stood at Yuan 3,391/tonne ($501/t) including the 13% VAT last Friday, higher by Yuan 5/t from the day prior. In the derivatives market, the most-traded rebar contract on the Shanghai Futures Exchange for October delivery closed the daytime trading session