China's HRC-rebar price spread turns negative

The price spread between hot-rolled coil (HRC) and rebar in China's domestic market turned negative on December 11 and continues to widen, Mysteel's latest data show, reflecting the weakness of HRC prices in contrast to the relatively resilient rebar prices, Mysteel Global learned.

On December 16, Mysteel assessed China's national average price of Q235 4.75mm HRC at Yuan 3,288/tonne ($467/t) including the 13% VAT, lower by Yuan 37/t from one month earlier, while that of HRB400E 20mm dia rebar under Mysteel's assessment registered Yuan 3,295/t including the VAT for an on-month rise