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WEEKLY SUMMARY: China rebar price dips, HRC stable

Over June 22-24, China’s rebar prices inched down on the slowing demand amid rainy season and rising production whilst firm billet prices, and the hot-rolled coil prices held largely steady, though the country’s overall steel sales were partially interrupted by the Dragon Boat Festival over June 25-26, and traders’ finished steel stocks reversed up after 14-week declines, according to Mysteel’s series of surveys.
Rebar: China’s price of HRB400 20mm dia rebar decreased further by Yuan 6/tonne ($0.8/t) from June 19 to Yuan 3,790/t including the 13% VAT as of June 24, according to Mysteel’s assessment, and the output refreshed its record high since Mysteel commenced the weekly survey in February 2015, and traders’

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