DAILY: China’s rebar price hits 2-month high, sales grow
Oct 09, 2019 10:35
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China’s national average price for HRB 400 20mm dia rebar hit its nearly two-month high of Yuan 3,929/tonne ($553/t) and including the 13% VAT on October 8, the first working day after China’s National Day holiday over October 1-7, or up Yuan 8/t from September 30, and spot sales were robust.
On Tuesday, spot steel trading nationwide showed strong signs of revival after the long break, and Mysteel’s daily monitor showed that the trading volume of construction steel among 237 dealers across China including rebar, wire rod and bar-in-coil hit 236,373 tonnes/day, up substantially 96,157 t/d or 41% from September 30,