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DAILY: China’s rebar price stabilises, sales down

China's national price of the HRB 400 20mm dia rebar, a bellwether of the domestic steel market’s sentiment, took a pause last Friday after five working days of continuous growth. The price hovered at Yuan 3,806/tonne ($544/t) including the 13% VAT as of July 10, unchanged from last Thursday, according to Mysteel’s data.
Transactions in the spot market weakened further on last Friday, as market sentiment turned cautious with the prices softening in the futures market. Domestic traders and downstream users slowed down their pace of buying, and higher-priced products were not popular in China’s steel market. Mysteel’s daily survey amongthe 237 sampled trading houses across China showed that

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