DAILY: China’s rebar price dips, sales firm
Oct 27, 2020 10:30
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China’s price of HRB400 20mm dia rebar reversed down Yuan 4/tonne ($0.6/t) on day to Yuan 3,818/t including the 13% VAT as of October 26, Mysteel’s data showed. The price remained rangebound after China’s National Day holiday ended and demand had not seen signs of weakness so far.
The rebar price had been ranging from Yuan 3799/t to Yuan 3,829/t since October 9, the first working day after the week-long holiday. The trading volume of construction steel comprising rebar, wire rod and bar-in-coil among 237 traders across China strengthened further on October 26 by 7,638 tonnes/day or 3.2%