DAILY: China's long steel prices and trading remain stable

China's rebar spot and futures prices remained largely stable on September 24, the last trading day before the Mid-Autumn Festival holiday from September 25-27. Spot trading of the long steel product also stayed steady, supported by pre-holiday stocking demand.

The national price of HRB400E 20mm dia rebar under Mysteel's assessment stood at Yuan 3,323/tonne ($495/t) including the 13% VAT on September 24, down Yuan 1/t on day after rising for three consecutive working days. In the futures market, the most-traded rebar contract on the Shanghai Futures Exchange for next