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DAILY: China’s rebar price strengthens, sales improve

China’s national HRB400 20mm dia rebar price assessed by Mysteel rose further by Yuan 6/tonne ($0.9/t) on day to Yuan 3,763/t including 13% VAT as of July 7. The rising rebar price was driven by the improved trading in the spot market.
Mysteel’s daily survey among 237 steel traders across China showed that on July 7, the trading volume of construction steel comprising of rebar, wire rod and bar-in-coil reversed up by 12,780 tonnes/day or 5.3% on day to 255,134 t/d. Market sentiment improved slightly given the strengthening futures prices as well as

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