DAILY: China’s long steel sales hit 2.5-month high
Aug 04, 2020 10:30
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The trading volume of rebar, wire rod and bar-in-coil among 237 traders across China hit a new high since May 18 to 305,432 tonnes/day as of August 3, after rebounding 95,985 t/d from last Friday, Mysteel’s data showed. Robust sales also stimulated rebar price increase on Monday.
China’s price of HRB400 20mm dia rebar increased further by Yuan 29/tonne ($4.2/t) from last Friday to Yuan 3,834/t including the 13% VAT as of August 3, according to Mysteel’s data.
The strong performance in the futures market had propped up the market sentiment on Monday. Steelmakers in some regions had