UTC+8 ( BJT)

DAILY: China rebar price loses another $8/t, sales ebb

ABSTRACT

On October 25, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment headed south for the 11th working day, or down another Yuan 51/tonne ($8/t) from last Friday, and spot sales of construction steel including rebar reversed from a strong recovery of 41.5% last Friday, losing 5.2%, suggesting that China's domestic steel demand would not improve much in the last few days of October.
On Monday, the rebar price eased to Yuan 5,535/t including the 13% VAT, or the lowest since September 13, and spot trading volume of construction steel also comprising wire rod and bar-in-coil among China's 237 traders under Mysteel's tracking shed 8,800 tonnes/day on day to 161,046 t/d, or having been

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