DAILY: China's rebar prices largely stable, spot sales rise further

China's rebar prices showed signs of stabilizing on September 15 in tandem with a slight rally in the futures market, while spot transactions for construction steel items including rebar rose for another day amid improved trading sentiment.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,314/tonne ($493.7/t) on Tuesday, nudging down by Yuan 1/t on day. Spot rebar prices in most regional markets held largely steady yesterday, while prices in East China's Hangzhou gained Yuan 10/t, which some market participants interpreted as a potential turning point