UTC+8 ( BJT)

DAILY: China's rebar price slips further, sales recover

ABSTRACT

China's national price of HRB400E 20mm dia rebar was assessed by Mysteel at Yuan 4,275/tonne ($634/t) including the 13% VAT on August 11, or having declined for the third day by another Yuan 8/t, while spot sales of construction steel including rebar had reversed from three days of declines by 19.3% on day.
On Thursday, the spot trading volume of construction steel also comprising wire rod and bar-in-coil among 237 Chinese trading houses under Mysteel's tracking grew by 24,983 tonnes/day on day to 154,163 t/d.   The continuing decline in spot rebar prices encouraged end-users to take some tonnage yesterday, but trading activities were lackluster in

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