WEEKLY SUMMARY: China rebar price down, HRC stable

China’s domestic rebar prices declined moderately over May 25-29, and the actual demand showed signs of softening due to the rainfalls in South China and the hot summer days in Central China, while hot-rolled coil prices stayed largely stable over the time.
Rebar: China’s price of HRB 400 20mm dia rebar reversed down Yuan 13/tonne ($1.8/t) on week to Yuan 3,786/t including the 13% VAT as of May 29, and rebar stocks at traders in 132 cities declined 542,600 tonnes or 4.4% on week to 11.7 million tonnes as of May 28,


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