DAILY: China’s rebar price up further, trading eases
Nov 08, 2019 10:40
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China’s national average price for HRB400 20mm dia rebar has been on the uptrend since late October, up another Yuan 7/tonne ($1/t) on day to Yuan 3,895/t including the 13% VAT as of November 7, while the spot trading ebbed further, falling below the 200,000 tonnes after having persisted at and above the level since October 25.
The daily trading volume of construction steel comprising rebar, wire rod and bar-in-coil among 237 traders across China under Mysteel’s survey softened for the second day on Thursday, down further by 36,119 t/d or 16.6% on day to 181,323 t/d, as recent price rises may have deterred some buying enthusiasm,