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DAILY: China’s rebar price rangebound, sales down

China’s domestic rebar prices softened amid stability of late as the market sentiment stayed cautious. Transactions in the physical market also weakened amid prevalent market pessimism, Mysteel Global noted.
China’s price of HRB400 20mm dia rebar decreased for the seventh successive day by another Yuan 4/tonne ($0.6/t) on day to Yuan 3,764/t including the 13% VAT as of September 23, Mysteel’s data showed. Long steel prices in many Chinese regions witnessed declines on Wednesday. However, the declining pace had slowed

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