DAILY: China’s rebar price dips further, sales strengthen
Aug 11, 2020 10:30
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China’s price of HRB400 20mm rebar slipped down further by Yuan 13/tonne ($1.9/t) from last Friday to Yuan 3,848/t including the 13% VAT as of August 10, Mysteel’s data showed. However, transactions in the spot market saw improvements.
The trading volume of rebar, wire rod and bar-in-coil among 237 traders monitored by Mysteel across China increased 25,076 tonnes/day or 12.4% from last Friday to 227,600 t/d on August 10.
“Rebar prices are rangebound for now and in the near term, prices would likely continue to fluctuate until the steel