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DAILY: China rebar price dips, longs sales at 7-mth low

ABSTRACT

On October 12, Mysteel’s assessments showed that China’s national price of HRB400E 20mm dia rebar declined for the second working day by Yuan 59/tonne ($9.2/t) on day, and spot sales of construction steel including rebar fell to its seven-month low after having dropped for the third working day by 26.5% on day due to recent surges in prices and the anticipation on weakening demand in winter.
On Tuesday, the rebar price fell to Yuan 5,976/t, or having left the threshold of Yuan 6,000/t after three working days, and support from the semis eased too, as the Q235 150mm square billet price in North China’s Tangshan subsided after a three-day stability, down Yuan 30/t on day to

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