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DAILY: China’s rebar price decreases, sales weaken

China’s national average benchmark price for HRB 400 20mm dia rebar decreased further by another Yuan 24/tonne ($3.4/t) from last Friday to Yuan 3,623/t, including the 13% VAT as of March 30, according to Mysteel’s database. Trading volume also retreated slightly on the same day.
The trading volume of construction steel comprising rebar, wire rod and bar-in-coil among 237 major traders under Mysteel’s regular survey declined to 177,493 tonnes/day, inching down 17,159 t/d or 8.8% from last Friday, according to Mysteel’s daily transaction report. Downstream steel demand had not fully resumed with domestic steel market facing continuous pressure from the

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