DAILY: China's rebar prices recover, trading pulls back

China's domestic spot rebar prices recovered on October 10, a makeup working day for the National Day holiday over October 1-7, while spot trading for the long steel product retreated markedly, Mysteel Global learned.

The national price of HRB400E 20mm dia rebar assessed by Mysteel stood at Yuan 3,322/tonne ($496/t), including the 13% VAT, on Saturday, recovering by Yuan 6/t from Friday when the price dipped Yuan 2/t on day. In the derivatives market, major ferrous futures posted rallies last Friday amid improved macroeconomic expectations.