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DAILY: China's rebar price and sales both down further

ABSTRACT

On May 18, China's national price of HRB400E 20mm dia rebar eased for the fifth working day, down by another Yuan 40/tonne ($5.9/t) on day to hit a 2.5-month low of Yuan 4,874/t including the 13% VAT, while spot sales of construction steel including rebar slipped further by 11.7% on day, both according to Mysteel's assessments.
On Wednesday, the daily trading volume of construction steel also comprising wire rod and bar-in-coil among China's 237 trading houses softened by 16,719 tonnes/day to 126,279 t/d, as both traders and end-users were cautious about buying amid market uncertainties, Mysteel Global noted.   By the same day, the Tangshan Q235 150mm square

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