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DAILY: China rebar price up further, spot sales ebb 16%


On September 29, China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment hit the highest since May 17, or up for the third working day by Yuan 45/tonne ($7/t), though spot trading of construction steel accelerated the pace in decline, down for the second day by 16% on day mainly as the trading enthusiasm had been dampened by the price rises.
On Wednesday, the rebar price was assessed at Yuan 5,859/t, still Yuan 489/t lower than the record high on May 12, and the Q235 150mm sqaure billet price in North China’s Tangshan showed signs of strengthening after staying unchanged for three days, up Yuan 20/t on day to Yuan 5,210/t


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