DAILY: China’s rebar prices stable, trading retreats
May 29, 2020 10:30
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China’s national price of HRB 400 20mm dia rebar inched up Yuan 2/tonne ($0.3/t) on day to Yuan 3,768/t including the 13% VAT as of May 28, according to Mysteel’s data. The sales of long steel softened and market sentiment turned slightly pessimistic, Mysteel Global noted.
The trading volume of rebar, wire rod and bar-in-coil among 237 traders across China under Mysteel’s survey reversed down 25,492 tonnes/day or 10.2% on day to reach 224,169 t/d on May 28.
The actual demand from construction sites has slowed down recently given the frequent rains in South China and high