DAILY: China’s rebar price slipping, pessimism hovers
Aug 07, 2019 10:30
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As of August 6, China’s national HRB400 20mm dia rebar benchmark price fell by another Yuan 28/tonne ($4/t) on day to Yuan 3,935/t and the Tangshan Q235 150mm square billet price down Yuan 20/t on day to Yuan 3,540/t EXW, both prices, including the 13% VAT, had been the fourth-day decline when the market sentiment stayed pessimistic.
China’s steel output persisted high despite modest declines since July, and anticipation of the Sino-US trade war escalation with the latest developments have unsettled not only the stocks markets but commodities markets in general.
“The steel futures market tumbled and the spot market followed. It seems hard to resist the strong