DAILY: China's rebar prices hit 2-mth high, trading rebounds

China's domestic rebar spot and futures markets built on gains on August 28, and spot trading for the long steel product also turned brisk amid buoyant market sentiment, Mysteel Global learned.

The national price of HRB400E 20mm dia rebar assessed by Mysteel hit a two-month high of Yuan 3,304/tonne ($491/t), including the 13% VAT, last Friday, up by a larger Yuan 22/t from the prior day and extending the uptrend for the sixth consecutive working day. China's ferrous futures posted broad-based gains