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DAILY: China’s long steel prices down on stocks build-up

Both the billet and rebar prices in China reversed down on October 9, as the buying interest in the domestic steel market slowed down and market sentiment was dampened on noting the swelling steel stocks both at the traders and steel mills over the National Day holiday on October 1-7, Mysteel Global noted.
The Q235 150mm square billet price in Tangshan, North China’s Hebei province, fell Yuan 40/tonne ($5.6/t) on day to Yuan 3,380/t EXW on October 9, and Mysteel’s national average price for HRB400 20mm dia rebar slipped from its two-month high, down Yuan 6/t from October 8 to Yuan 3,923/t, both

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