WEEKLY SUMMARY: China's domestic steel prices recover
Jul 13, 2020 10:45
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Over July 6-10, China’s rebar and HRC prices recovered on the declines in steel production, the slowdown in steel stocks build-up, as well as the growing market optimism in the next few months that had boosted spot sales.
Rebar: China’s price of HRB400 20mm dia rebar rebounded Yuan 55/tonne ($7.9/t) on week to Yuan 3,806/t including the 13% VAT as of July 10 after having declined since mid June, as rebar output among 137 long steelmakers reversed down from its historical high to 3.9 million tonnes over July