DAILY: China steel prices rangebound, trade steady
May 25, 2020 10:30
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China’s HRB400 20mm dia rebar price assessed by Mysteel stood at Yuan 3,799/tonne ($532.8/t) as of May 22, nudging down only Yuan 1/t on day. As of last Friday, the price had been rangebound for three days with the daily change within Yuan 5/t. Trading activity was generally steady though business was disrupted in some regions, Mysteel Global noted.
Last Friday, the trading volume of construction steel consisting of rebar, wire rod and bar-in-coil among traders was 216,909 tonnes/day, according to Mysteel’s daily survey across 237 Chinese steel traders, off 10,720 t/d or 4.7% on day. Over the past few working days, trading had slowed from last Monday’s 13-month