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DAILY: China's rebar price stays on uptrend, sales ebb

ABSTRACT

China's national price of HRB400E 20mm dia rebar had been on the uptrend for the sixth working day as of April 19, with another on-day rise of Yuan 9/tonne ($1.4/t) to reach Yuan 5,125/t including the 13% VAT, though spot sales of construction steel including rebar among 237 Chinese traders eased 18.5% on day after three working days of gains, both according to Mysteel's assessments.
On Tuesday, the daily trading volume of construction steel also comprising wire rod and bar-in-coil among surveyed traders slid 38,213 tonnes/day from Monday to 168,744 t/d, showing the slowdown in procurement from end-users and softening speculative buying among traders, sources shared.   With the announcement of China's National Development and Reform Commission

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