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DAILY: China’s long steel price dip further on low demand

China’s steel prices stayed on the downtrend on August 5 as demand showed no signs of revival and weather remained uncooperative, while production stayed high despite that some electric-arc-furnace mills reduced output amid lossmaking.
Mysteel’s national average price for HRB400 20mm dia rebar benchmark decreased for the third working day by another Yuan 29/tonne ($4.1/t) from last Friday to Yuan 3,963/t including the 13% VAT as of August 5, and Tangshan Q235 150mm square billet benchmark also fell again by Yuan 10/t from last

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