UTC+8 ( BJT)

DAILY: China rebar price down further amid poorer demand

China’s national price of HRB400 20mm dia rebar that Mysteel assessed edged down for the fourth day by another Yuan 8/tonne ($1.2/t) on day to Yuan 3,838/t including the 13% VAT as of August 12. Demand retreated due to heavy rainfalls in North and Southwest China and high temperature in South and East China.
Trading volume of construction steel comprising of rebar, wire rod and bar-in-coil was 192,078 tonnes/day on August 12, shrinking further by 24,651 t/d or 11.4% on day, according to Mysteel’s survey across 237 Chinese steel traders nationwide. The trading volume retreated to below the 200,000 t/d threshold which indicated active

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