DAILY: China’s rebar price down, sales fall
Mar 20, 2020 10:30
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China’s national average benchmark price for HRB400 20mm dia rebar reversed down Yuan 13/tonne ($1.8/t) on day to Yuan 3,664/t, including the 13% VAT, as of March 19, mainly impacted by the bearish rebar futures market, according to Mysteel’s daily price tracker.
On Thursday, the most-traded rebar May contract on the
Shanghai Futures Exchange closed at Yuan 3,528/t as of the day-time trading
session, down Yuan 32/t on day, further dampening the near-term market outlook.
On the same day, China’s long steel sales retreated by
64,478 tonnes/day or 30.5% on day. Mysteel’s daily spot sales