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DAILY: China rebar price dips another $9/t, sales low


On October 18, Mysteel's assessments showed that China's national price of HRB400E 20mm dia rebar slipped for the sixth working day by another Yuan 57/tonne ($8.9/t) from last Friday, and spot sales of construction steel including rebar still hovered low despite a recovery of 2% from last Friday, showing market trading enthusiasm stayed tepid.
On Monday, the rebar price eased further to Yuan 5,824/t including the 13% VAT, and the spot trading volume of construction steel also comprising wire rod and bar-in-coil among China's 237 traders under Mysteel's tracking reversed up by 3,749 tonnes/day from last Friday to 191,263 t/d, or having been below


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