China's HRC-rebar price spread falls below $7/t

The price spread between hot-rolled coil (HRC) and rebar in China's domestic market has been contracting steadily since the start of this month, mainly due to the persistent weakness of HRC prices and the recovery in those of rebars, Mysteel Global has learned.

On November 18, Mysteel assessed China's national average price of Q235 4.75mm HRC at Yuan 3,321/tonne ($467/t) including the 13% VAT, lower by Yuan 44/t from the end of October, while that of HRB400E 20mm dia rebar under Mysteel's assessment had increased by Yuan 19/t to reach Yuan 3,279/t