UTC+8 ( BJT)

DAILY: China's major steel prices and sales all rebound

ABSTRACT

On May 11, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment rebounded after four days of declines, up by Yuan 16/tonne ($2.4/t) on day to Yuan 4,985/t including the 13% VAT.
On Wednesday, the trading volume of construction steel including rebar, wire rod and bar-in-coil among 237 Chinese trading houses under Mysteel's tracking also reversed up substantially by 39,054 tonnes/day or 28.35% on day to 176,826 t/d. The improvement in sales was mainly due to speculative buying in the spot market

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