NOTE: There will be no news and data updates over January 31-February 4 due to the Chinese New Year holiday.
UTC+8 ( BJT)

DAILY: China's rebar price declines 7th day, sales slip

ABSTRACT

On December 29, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment refreshed a one-month low of Yuan 4,740/tonne ($744/t) including the 13% VAT, or having declined for the seventh working day by another Yuan 25/t, and the spot trading of construction steel including rebar reversed from just one day of recovery, down by 6.6% on day.
On Wednesday, the daily trading volume of construction steel also comprising wire rod and bar-in-coil among the 237 Chinese traders under Mysteel's survey lost 9,480 tonnes/day on day to 133,955 t/d, as demand from end-users subsided with temperatures plummeting in winter months and traders were reluctant to restock amid high

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