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DAILY: China rebar price at highest in Mysteel record

ABSTRACT

On May 6, China’s national HRB400E 20mm rebar price reached the highest since Mysteel commenced the assessment in March 2011, or hitting Yuan 5,489/tonne ($844/t) including the 13% VAT after having skyrocketed by Yuan 234/t from April 30, and spot sales of construction steel rebounded by 57.5% from April 30, according to Mysteel’s surveys among 237 Chinese traders.
On Thursday, the first working day after China’s Labour Day holiday, the rebar price continued with the uptrend prior to the holiday, up for the third working day, and the trading volume of construction steel including rebar, wire rod and bar-in-coil among the surveyed traders jumped 117,443 tonnes/day from April

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