DAILY: China rebar price stable, market in festive mood
Jan 14, 2020 10:30
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Mysteel’s national HRB400 20mm dia rebar benchmark price remained largely stable at Yuan 3,835/tonne ($556/t) including the 13% VAT, up only Yuan 1/t from last Friday, and the price had been hovering at the level since the start of 2020, though the spot steel trading volume has been declining steadily, Mysteel Global noted.
China’s domestic steel market have been into a quiet period as downstream users -including building contractors and manufacturers have been off early for Chinese New Year holiday over January 24-30, and many steel traders have also halted their business for a longer holiday, Mysteel Global understood from the market.