UTC+8 ( BJT)

DAILY: China's steel prices decline further, sales low

ABSTRACT

On May 9, China's national price of HRB400E 20mm dia rebar eased for the third assessment day by another Yuan 50/tonne ($7.4/t) on day to Yuan 5,020/t including the 13% VAT, and spot sales of construction steel including rebar, wire rod and bar-in-coil among China's 237 trading houses reversed down by 501 tonnes/day or 0.4% on day to 141,870 t/d, both according to Mysteel's assessments.
The pessimistic market sentiment in response to stringent COVID-induced restrictions in many parts of China, together with growing concerns about near-term demand for finished steel and for key steelmaking inputs, had dampened end-users' buying enthusiasm, Mysteel Global noted.   Also on Monday, the price of Q235 150mm square billet in North China's

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