DAILY: China’s steel prices on downtrend

On December 28, steel prices in China decreased further, with rebar price declining for the fourth day and Tangshan billet price dipping for the third day. Besides, construction steel sales reversed down after last Friday’s rebound, Mysteel Global assessed.

China’s national price of HRB400 20mm dia rebar lost Yuan 14/tonne ($2.1/t) from last Friday to Yuan 4,394/t including the 13% VAT as of December 28, according to Mysteel’s data. Also on December 28, the trading volume of construction steel including rebar, wire rod and bar-in-coil shed 9,728 tonnes/day