DAILY: China’s rebar price dives on plunging futures
Sep 17, 2020 10:30
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China’s national price for HRB 400 20mm dia rebar posted second day of decline of Yuan 17/tonne ($2.5/t) on day to Yuan 3,806/t including 13% VAT as of September 16, quite a notable decline among the mild fluctuations lately, according to Mysteel’s daily price tracker.
The obvious decline in spots rebar price was mainly due to the sharp drops in Chinese ferrous futures prices including rebar and iron ore. The most traded rebar futures contract down 1.8% on day and iron ore futures plunged 5.1% on day, Mysteel Global learned from the market.
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