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DAILY: China's rebar price dips 3rd day, sales recover

ABSTRACT

On April 25, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment declined for the third working day, down by a large Yuan 40/tonne ($6.1/t) from April 24 to Yuan 5,060/t including the 13% VAT. April 24 is a working weekend day in lieu of off-days during Labour Day holiday over April 30-May 4.
In response to the decline in spot steel prices, the most-traded rebar October contract on the Shanghai Futures Exchange slumped by Yuan 237/t or 4.73% from the settlement price of April 22, closing the daytime trading session of April 25 at Yuan 4,778/t.   On Monday, lower steel prices encouraged some end-users to

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