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DAILY: China’s steel prices soften further, sales improve

China’s national price of HRB400 20mm dia rebar continued to soften for the eighth consecutive working days. It reached a nearly three-month low of Yuan 3,760/tonne ($550.5/t) including the 13% VAT as of September 24, down another Yuan 4/t on day or a total of Yuan 98/t so far in September.
Steel trading recovered on Thursday and steel stocks at traders continued to decline for another week—according to Mysteel’s statistic released on September 24—but they failed to improve the deteriorating market sentiment, Mysteel Global understands. On Thursday, trading of construction steel consisting of rebar, wire rod and bar-in-coil totalled 248,484 tonnes/day, up


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