DAILY: Decline in China's spot rebar prices slows, sales pick up

Decline in China’s spot rebar prices slowed on November 4, supported by relatively low inventories and shortages of certain specifications in the physical market. Meanwhile, spot hot-rolled coil (HRC) prices continued to edge lower amid elevated inventories and weak supply-demand fundamentals.

Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,288/tonne ($493/t) including the 13% VAT on Wednesday, down by a smaller Yuan 2/t on day. The same day, the assessed national price of Q235B 4.75mm HRC slipped further by Yuan 6/t to Yuan 3,198/t. In the derivatives market, both rebar and HRC