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DAILY: China’s rebar price and spot steel sales both soar

China’s national price of HRB400 20mm dia rebar has been rather resilient with small volatility recently, and the price recovered Yuan 47/t on March 8 from March 5, while the spot sales volume of construction steel including rebar has been steadily increasing, up another 15.9% from last Friday, Mysteel’s survey showed.
On Monday, the rebar price reached Yuan 4,767/t including the 13% VAT or having been above the Yuan 4,700/t level for the fourth working day despite the volatility, and the spot trading volume of construction steel including rebar, wire rod and bar-in-coil among China’s 237 steel traders soared by 25,253


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