UTC+8 ( BJT)

DAILY: China's rebar price rises further, sales recover

ABSTRACT

On April 14, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment rose for the third working day, though it was up by a tiny Yuan 1/tonne ($0.2/t) on day to Yuan 5,093/t including the 13% VAT, while spot trading of construction steel reversed up by 23.1%. The uptick in sales was probably due to speculative buying in the spot market.
On Thursday, the trading volume of construction steel including rebar, wire rod and bar-in-coil among 237 Chinese trading houses under Mysteel's tracking recovered by 29,964 tonnes/day to 159,468 t/d on day.   In the futures market, the most-traded rebar October contract on the Shanghai Futures Exchange gained by Yuan 31/t or 0.62%

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