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WEEKLY SUMMARY: China steel prices dip, sales up

China’s domestic prices of major steel products all reversed down over March 23-27, even though spot sales volume had remained high, partly as most traders still rushed to conclude more deals rather than to prop up prices amid the growing uncertainties in the global economic environment amid the worsening COVID-19 situation, Mysteel Global noted.
Rebar: China’s national average price for HRB400 20mm dia rebar reversed down by Yuan 25/tonne ($3.5/t) on week to Yuan 3,647/t including the VAT as of March 27 even though that the daily trading volume of construction steel including rebar, wire rod, and wire-in-coil among 237 traders across China gained


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