DAILY: China's rebar market gains steam amid strong cost support

China's rebar market gathered more momentum on August 24, supported by hiking domestic coke prices, with rebar prices rising in both spot and futures markets, while spot transactions for construction steel items also leapt on the same day.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,271/tonne ($486/t) on Monday, up by Yuan 34/t from last Friday. One steelmaker in South China's Guangxi Zhuang autonomous region lifted the ex-works prices of its long steel products by Yuan 20-30/t to Yuan 3,185-3,485/t, Mysteel learned. On Monday,