DAILY: China's steel market shows signs of firming

China's spot prices of rebar and hot-rolled coil (HRC) snapped their losing streaks for four consecutive days and posted small gains on October 28, partly supported by recovering sentiment in the futures market.

The national price of HRB400E 20mm dia rebar was assessed by Mysteel at Yuan 3,302/tonne ($495.6/t) on Wednesday, rebounding slightly by Yuan 4/t on day. The same day, the national price of Q235B 4.75mm HRC under Mysteel's assessment nudged up by Yuan 1/t to Yuan 3,224/t. In the derivatives market, the