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DAILY: China’s rebar price jumps, spot sales low


On July 26, China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment strengthened for the second working day, or up substantially by Yuan 66/tonne ($10.2/t) from last Friday, mainly to reflect the growing market optimism with anticipated less output, while spot sales of construction steel including rebar eased for the second working day by 2.8% from last Friday in the off season.
On Monday, the rebar price climbed to Yuan 5,453/t and including the 13% VAT, while the daily trading volume of construction steel also including wire rod and bar-in-coil among China’s 237 traders under Mysteel’s tracking lost 5,070 tonnes/day from that on July 23 to 175,902 t/d, as the actual steel


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