Infograph: Chinese mills' rebar stocks reaching a turning point?
The slowdown
in sales is also suggesting the impending turning point, as Mysteel’s survey
among the 237 trading houses across China showed that their daily trading
volume of construction steel including rebar, wire rod and bar-in-coil, averaged
187,213 t/d over November 19-25. An 18% decline on week, and the trading volume
in the northern part of China fell more substantially by 20% on week, as the
freezing weather has chilled the regional demand.
China’s
steel traders, thus, are with growing cautiousness in holding onto high stocks,
and it does not help the sentiment either when China’s national price of the
HRB 400 20mm dia rebar eased Yuan 75/tonne ($11.4/t) from the recent high on November 23 to Yuan 4,099/t including the 13% VAT
as of November 30.
Interactive data chart below to help you track the industry trend.
MYSTEEL: China's rebar prices to rise $14/t MoM in Dec
Dec 06, 2022 13:45
MYSTEEL: China Nov construction steel prices seen firming
Nov 04, 2022 17:00
INFOGRAPH: China's rebar price refreshes a 2-year low
Nov 02, 2022 12:30
MYSTEEL: China's Oct construction steel prices to rise
Oct 12, 2022 17:00
Japan's rebar prices stay flat, further decline most unlikely
Aug 19, 2022 13:30