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DAILY: China rebar price down $22/t, billet stabilizing

ABSTRACT

On October 22, China's national HRB400E 20mm dia rebar price declined for the 10th consecutive day, down Yuan 138/tonne ($21.6/t) on day to Yuan 5,586/t, while the Q235 150mm square billet price in Tangshan showed signs of stabilizing after a Yuan 100/t slump last Friday, remaining unchanged at Yuan 4,990/t EXW by October 24, both including the VAT and assessed by Mysteel.
Despite sharp falls in rebar price, spot trading of construction steel among 237 steel traders nationwide consisting of rebar, wire rod and bar-in-coil rebounded on day last Friday, up 49,777 tonnes/day or 41.5% from an eight-month low as of October 21 to 169,846 t/d on Friday.     "Buying (of billet) has

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