DAILY: China’s rebar price resumes climb-up, market robust

China’s national average benchmark price for HRB 400 20mm dia rebar resumed the climb-up on April 15 after having taken a pause for the previous four working days, gaining Yuan 33/tonne ($4.9/t) from last Friday to Yuan 4,229/t including 13% VAT, as demand from the downstream users has stayed strong and the supply will probably be curtailed to some degree in April, Mysteel Global understands.

On Monday, the country’s daily sales volume of long steel products - chiefly rebar, wire rod and bar-in-coil - surged 33.8% from April 12 to 273,644 tonnes/day, and East China was the biggest contributor with the daily trading volume up 43.5% to 152,655 t/d, according to Mysteel’s daily transaction