UTC+8 ( BJT)

DAILY: China’s rebar price, spot sales both dip

China’s national price of HRB400 20mm dia rebar dipped by Yuan 6/tonne ($0.9/t) on day on March 4 to reach Yuan 4,768/t including the 13% VAT, according to Mysteel’s assessment. Despite the decline, prices are still high, a factor blamed for the drop in spot sales of construction steel for a second successive day on Thursday.
Mysteel’s survey found that the spot trading volume of construction steel including rebar, wire rod and bar-in-coil among the 237 steel traders Mysteel checks declined by 32,376 tonnes or by 18% on day on Thursdayto 147,499 t/d. Industry sources say traders are skittish due to the continuous hikes in price,

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