DAILY: China's steel prices edge higher, but trading retreats

China's spot prices of rebar and hot-rolled coil (HRC) rose for the second straight day on November 6, tracking a further rally in the ferrous futures following the previous day’s broad gains.

The national price of HRB400E 20mm dia rebar was assessed by Mysteel at Yuan 3,306/tonne ($495/t) last Friday, up by another Yuan 7/t on day. Meanwhile, the national price of Q235B 4.75mm HRC under Mysteel's assessment also edged up by Yuan 5/t on day to Yuan 3,223/t. Overall market sentiment continued to improve, with key