DAILY: Rebounding futures see China's rebar market tick up

Driven by its strengthened derivatives, China's spot rebar market finally eked out gains on October 25 after sliding for over a week, with both prices and sales of the long steel product moving upward.

On Friday, China's national price of HRB400E 20mm diameter rebar under Mysteel's assessment settled at Yuan 3,614/tonne ($507.5/t) including the 13% VAT, snapping an eight-day losing streak and recovering slightly by Yuan 7/t from Thursday. The same day, futures prices of major ferrous commodities in China, including rebar, iron ore and