China’s average price for HRB400 20mm dia rebar hit a three-month high of Yuan 3,939/t including the 13% VAT on November 14 after having been on the uptrend for the third day on November 14, and spot trading of construction steel also reversed up on Thursday with the improving market sentiment on better sales and further declines in traders’ inventories.
On Thursday, the national rebar price gained another Yuan 21/tonne
($3/t) on day, and The Tangshan Q235 150mm square billet price, a key indicator
of China’s steel market sentiment,also strengthened further by Yuan 30/t
on day to Yuan 3,390/tEXW and including the 13% VAT, returning to the
October 16 level, as demand from downstream