DAILY: Positive sentiment boosts China's rebar market

Buoyed by optimistic macroeconomic signals, China's rebar market performed strongly on December 10, with both spot and futures prices of the long steel item jumping and its transactions holding steady.

On Tuesday, China's national price of HRB400E 20mm diameter rebar under Mysteel's assessment ended a three-day declining streak to reach Yuan 3,521/tonne ($485.6/t) including the 13% VAT, up by Yuan 52/t from one day before. China's top officials have recently pledged to boost economic growth via more proactive and effective macro