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DAILY: China’s rebar price slips, spot sales recover


China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment declined for the sixth working day on June 22, down another Yuan 70/tonne ($10.8/t) on day to Yuan 4,984/t including the 13% VAT, or having below the Yuan 5,000/t threshold after 2.5 months, as both spot demand and market sentiment had been tepid.
On Tuesday, the daily trading volume of construction steel including rebar, wire rod and bar-in-coil among China’s 237 traders under Mysteel’s survey rebounded form the previous day’s drop, up 19,984 tonnes/day or 12.4% on day to 180,938 t/d, though still a low level as the spot market has entered a


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