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DAILY: China's spot rebar price drops $7/t, sales jump

Source: Mysteel Nov 12, 2024 10:30
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China's rebar prices in the spot market continued to decline on November 11, mainly driven by a bearish sentiment across the entire Chinese ferrous commodity sector.
On Monday, Mysteel assessed China's national price of HRB400E 20mm dia rebar to edge down further by a notable Yuan 51/tonne ($7/t), hitting a one-and-half-month low of Yuan 3,532/t.   The Friday announcement by China's central government of a Yuan 6 trillion fund to ease local government debt has yet to uplift domestic ferrous commodity markets,

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