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DAILY: China rebar price reverses down, trade not strong

China’s national HRB400 20mm dia rebar price reversed down by Yuan 9/tonne ($1.3/t) on day to Yuan 3,793/t including 13% VAT as of June 23, losing losing all the gains over June 19-22, according to Mysteel’s assessment, and the daily trading volume remained largely stable though traders admitted the growing difficulty in receiving payments from the end-users.
China’s daily trading of construction steel consisting of rebar, wire rod and bar-in-coil was 205,508 tonnes/day on Tuesday, reversing up 4,873 t/d or 2.4% on day, according to Mysteel’s survey across 237 Chinese steel traders. “Steel trading was not high enough to offset the growths in supply, and many construction sites

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