I am a fulltime smith in the USA. I use rebar as a practice material and for many of my hot tools. It does hold an edge well and can make some very impact resistant tools. Compared to other more specific metals designed for blades it is a very inexpensive alternative.
Makes me wonder a bit, 'cause rebar does not have any carbon above 0.2% what does not make it hardenable. Having a look at the designated job of the steel shows that higher carbon contents or hardenability are not necessary. And I never had any tool made of rebar holding an edge for any longer time.
