UTC+8 ( BJT)

DAILY: China's rebar price hovers at 3-m high after CNY

ABSTRACT

China's national price of HRB400E 20mm dia rebar price continued to move up for the fourth consecutive working day after the Chinese New Year holiday (CNY) as of last Friday by another Yuan 29/tonne ($4.6/t) on day to Yuan 5,032/t including the 13% VAT, again refreshing the three-month high, according to Mysteel's assessment.
Chinese steel producers and traders kept pushing prices higher last Friday on gradual demand recovery among end-users after the CNY holiday over January 31-February 6, according to market sources.   Meanwhile, spot sales remained largely poor last Friday with most end-users returning to work around the Chinese Lantern Festival which falls on February

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