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DAILY: China rebar price down further, sales rebound

China’s average price for HRB400 20mm dia rebar, a bellwether of the domestic steel market sentiment, had been on a downtrend since the start of December, and it lost another Yuan 35/tonne ($5/t) on day to Yuan 4,025/t including the 13% VAT as of December 6, though spot sales of construction steel showed a bit of recovery last Friday.
As of December 6, the daily trading volume of construction steelincluding rebar, wire rod and bar-in-coilamong the 237 sampled traders across China under Mysteel’s surveycame in at 167,127 tonnes/day, or having reversed up 26,252 t/d or 18.6% on day, as China’s domestic steel demand has entered the traditional off seasonwith the dropping temperaturesin many regions

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