DAILY: China's rebar prices hold largely steady, sales improve

China's rebar prices in both spot and futures markets kept largely steady on July 29, while spot trading of long steel items including rebar rebounded modesty amid a brief sentiment lift early in the day, Mysteel Global learned.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,259/tonne ($481/t) including the 13% VAT on Wednesday, staying unchanged from one day prior. In the derivatives market, the most-traded rebar October contract on the Shanghai Futures Exchange gained in early trading on Wednesday before a pullback in the afternoon,