UTC+8 ( BJT)

DAILY: China’s rebar price on downtrend, spot sales ebb

ABSTRACT

China’s domestic steel market into a pessimistic zone, as both steel and iron ore prices tumbled and spot steel trading volume shrank on June 21, and China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment, for example, softened for the fifth working day, down another Yuan 72/tonne ($11.1/t) to Yuan 5,054/t including the 13% VAT.
On Monday, the daily trading volume of construction steel including rebar, wire rod and bar-in-coil among China’s 237 traders under Mysteel’s survey fell sharply by 40,174 tonnes/day or 20% on day to 160,954 t/d after two days of rises amid the decreases in the actual demand as well as the

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