DAILY: China’s rebar price decreases albeit lower stocks
Aug 16, 2019 10:30
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China’s national average price for HRB400 20mm dia rebar reversed down on August 15 after a two-day rebound, dipping by Yuan 6/tonne ($0.9/t) on day to Yuan 3,842/t including the 13% VAT even though the steel inventories at the traders showed signs of decreases.
Over August 8-14, inventories of five major finished steel products at the trading houses in 35 major Chinese cities decreased for the first week after having risen continuously for nine weeks, down 0.9% on week to 12.9 million tonnes, but it was still a four-month high.
As a result, Chinese steel