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DAILY: China’s rebar price falls further, sales recede

China’s rebar price retreated on November 25 after refreshing its one-year highs continuously this month. Long steel sales continued to weaken in the spot market amid strong cold waves in many domestic regions, according to Mysteel’s tracking.
As of November 25, China’s national price of HRB400 20mm dia rebar, a bellwether of the domestic steel market development, lost Yuan 33/tonne ($5/t) on day to Yuan 4,121/t including the 13% VAT, the biggest drop since July 17 2020, Mysteel’s data showed. On Wednesday, the trading volume of construction steel

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