UTC+8 ( BJT)

DAILY: China's rebar price edges up, sales stay low

ABSTRACT

China's national price of HRB400E 20mm dia rebar under Mysteel's assessment edged up last Friday to Yuan 4,286/tonne ($641/t) including the 13% VAT, gaining Yuan 3/t on day after sliding continuously for the prior ten days, while sales in the physical market remained lackluster as high-priced products still struggled to find buyers.
On June 24, the daily trading volume of construction steel comprising rebar, wire rod and bar-in-coil among the 237 Chinese trading houses under Mysteel's tracking reached 147,682 tonnes, down 38,672 t from the previous day.   The pessimism in the domestic market eased somewhat last Friday with the strength of ferrous prices

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