NOTE: No news updates over January 24-30 due to the Chinese New Year holiday. Happy CNY!
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DAILY: China rebar price back to decline, sales rebound

China’s national average benchmark price for HRB 400 20mm dia rebar, the most important indicator of China’s steel market sentiment, reserved down by Yuan 5/tonne ($0.7/t) on day to Yuan 4,012/t including the 13% VAT as of December 11 after one-day pause of decline, while spot sales of construction steel showed moderate recovery on the same day, according to Mysteel’s database.
On Wednesday, the daily trading volume of construction steel including rebar, wire rod and bar-in-coil among the 237 sampled traders across China under Mysteel’s survey reversed up by 1.9% or 3,085 tonnes/day on day to 163,811 t/d, a normal level in cold winter days. After the recent boost to the market

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