DAILY: China's rebar prices, sales both pick up

China's rebar market gained some strength on September 21, with prices in both physical and futures markets rebounding modestly. Spot trading for construction steel including rebar also spiked as more end-users entered the market for pre-holiday restocking amid better trading sentiment, Mysteel Global learned.

On Monday, Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,316/tonne ($495/t) including the 13% VAT, up by Yuan 5/t from Sunday, a makeup working day for China's National Day holiday over October 1-7. Shagang Group in East China's Jiangsu raised prices of its construction steel products for late September