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DAILY: China steel prices down, preholiday buying active

China’s national HRB400 20mm dia rebar price assessed by Mysteel continued to dip for the tenth working day on September 27. It refreshed its three-month low to Yuan 3,754/tonne including the 13% VAT, down another Yuan 4/t on day and steel sales had turned active on preholiday restocking activities.
September 27 is a working Sunday in China due to the upcoming National Day holiday spanning October 1-8. On Sunday, China’s domestic trading of steel for construction including rebar, wire rod and bar-in-coil hit 264,137 tonnes/day. It increased by 22,241 t/d or 9.2% on day, marking the second high this month,


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