DAILY: China's rebar prices rise again, sales also rebound

China's rebar prices in both the spot and futures markets staged a modest rebound on August 14, thanks to easing supply pressure and firmer cost-side support. Spot transactions for construction steel items including rebar also recovered from recent lows to above 90,000 tonnes/day in a better trading atmosphere.

The national price of HRB400E 20mm dia rebar Mysteel assessed came in at Yuan 3,223/tonne ($478/t) last Friday, up by a small Yuan 7/t on day and negating the prior day's Yuan 6/t drop. In the derivatives market, key ferrous futures rose across the board on Friday, with the main coking coal contract on the Dalian Commodity Exchange jumping 4.05%