DAILY: China rebar prices rebound, trading cools ahead of holiday

China's rebar prices in both spot and futures markets edged up on September 29 after a brief one-day decline, while long steel trading weakened markedly as pre-holiday restocking momentum faded ahead of the week-long National Day holiday beginning on October 1.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,325/tonne ($496/t) including the 13% VAT on Tuesday, up Yuan 5/t from Monday. In the derivatives market, the most-traded rebar contract on the Shanghai Futures Exchange for January delivery also edged up 0.16% from Monday's settlement price to