DAILY: China's rebar prices resume uptrend, sales brisk

China's rebar prices strengthened on September 8, driven by firmer raw material costs and easing supply pressure. Spot sales of construction steel including rebar also spiked the same day amid upbeat sentiment and a mild recovery of end-user demand.

On Tuesday, Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,346/tonne ($499/t), up by Yuan 8/t and resuming the uptrend after flattening on Monday. In the derivatives market, ferrous commodities posted broad-based gains on Tuesday, led by coking coal and coke futures on the Dalian Commodity Exchange, whose