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DAILY: China’s rebar price down further on weaker sales

China’s price of HRB400 20mm dia rebar declined further on July 1 by Yuan 7/tonne ($1/t) on day to Yuan 3,749/t including the 13% VAT, as the transactions in spot market slowed down, Mysteel’s data showed.
Also on July 1, the trading volume of construction steel comprising rebar, wire rod and bar-in-coil among 237 traders across China monitored by Mysteel reversed down 12,582 tonnes/day or some 6% on day to 196,294 t/d. Market sentiment turned moderately negative on Wednesday and many of the traders opted to compromise

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