DAILY: China’s rebar prices down, sales weaken
Mar 24, 2020 10:30
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Mysteel’s national average price for HRB400 20mm rebar benchmark reversed down by Yuan 25/tonne ($3.5/t) from last Friday to reach Yuan 3,647/t including the 13% VAT as of March 23. Trading has slowed down and market sentiment has turned more cautious, Mysteel Global noted.
The trading volume of construction steel comprising rebar, wire rod and bar-in-coil among 237 major traders under Mysteel’s regular survey also reversed down 11,307 tonnes/day or some 6% from March 20 to 178,488 t/d on March 23, Mysteel’s data showed.
The market is still facing pressure from the high levels of