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DAILY: China’s rebar price grows, spot sales ease


On July 27, China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment gained for the third working day by Yuan 14/tonne ($2.2/t) on day, still reacting to the growing market optimism on wide-range production curbs in China now that more provinces have reportedly issued restrictive measures, while spot sales of construction steel fell for the third working day by 19.3% on day.
On Tuesday, the rebar price reached its two-month high of Yuan 5,467/t and including the 13% VAT, while the daily trading volume of construction steel including rebar, wire rod and bar-in-coil among China’s 237 traders under Mysteel’s tracking slumped 34,005 tonnes/day on day to 141,897 t/d, as the demand has


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