DAILY: China’s rebar price softens at a slower pace
Dec 10, 2019 10:30
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China’s national average HRB400 20mm dia rebar benchmark price, the most important indicator of China’s steel market dynamic, stayed on the downtrend as of December 9, having lost another Yuan 9/tonne ($1.3/t) from last Friday to Yuan 4,016/t including the 13% VAT, or a low since November 15.
The decline on Monday, though, slowed down in pace compared with last week when the price fell a total of Yuan 127/t or Yuan 25/t daily on average.
“Market panic eased moderately after the fast declines last week, and spot steel trading has improved, which saw lower offering disappear from the