DAILY: China’s rebar prices gain further, sales retreat

On January 5, China’s rebar price moved up for the third working day by another Yuan 20/tonne, while the spot sales of construction steel decreased by 18.4% on day, as many domestic traders preferred to monitor the price movement a while longer, Mysteel Global noted.

As of January 5, China’s national price of HRB400 20mm dia rebar rose to Yuan 4,422/t including the 13% VAT, while the spot trading volume of construction steel including rebar, wire rod and bar-in-coil across China’s 237 steel traders reversed down by 41,812 tonnes/day to 185,625 t/d or the