DAILY: China's rebar prices dip again, but trading picks up

China's spot rebar prices edged lower on January 4, the makeup working day following the country’s New Year’s Day holiday over January 1-3. Spot transactions for construction steel items recovered modestly though, as some downstream buyers entered the market to replenish their stocks after the three-day holiday, Mysteel Global noted.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,321/tonne ($474/t) including the 13% VAT on Sunday, inching down by Yuan 3/t from Wednesday, the last working day before the holiday. Rebar prices in the physical market held largely steady in the morning yesterday but softened in the afternoon