DAILY: China’s rebar price rangebound, sales retreat
Jun 10, 2020 10:30
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China’s national price of HRB400 20mm dia rebar has been rangebound of late, reversing down Yuan 4/tonne ($0.6/t) on day to Yuan 3,846/t including the 13% VAT as of June 9. Transactions in the spot market also softened, Mysteel’s data showed.
The trading volume of rebar, wire rod and bar-in-coil among 237 traders under Mysteel’s daily regular survey dropped 53,510 tonnes/day or some 20% on day to 214,962 t/d on June 9.
Actual demand from end-users saw signs of weakness recently as the rainy days in South China and scorching weathers in