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DAILY: China’s rebar price down again, sales weaken

China's national price of the HRB 400 20mm dia rebar returned to the downtrend again on Tuesday after a short-lived rebound on the previous day. The price declined by Yuan 6/tonne ($0.9/t) on day to Yuan 3,823/t including the 13% VAT as of September 15, according to Mysteel’s data.
Long steel sales in the spot market weakened further on the same day, as downstream users slowed their pace of buying after noting the falling prices in both the spot and futures market, Mysteel Global notes. Mysteel’s daily survey among the 237 sampled trading houses across China showed that the trading volume of construction steelcomprisingrebar, wire

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