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On May 19, China's national price of HRB400E 20mm dia rebar dropped for the sixth working day, down by another Yuan 42/tonne ($6.2/t) on day to touch a 3.5-month low of Yuan 4,832/t including the 13% VAT, while spot sales of construction steel including rebar recovered by 32.5% on day after two days of declines, both according to Mysteel's assessments.
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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.
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On May 17, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment persisted at a two-month low, or having down for the fourth working day by Yuan 17/tonne ($2.5/t) on day to Yuan 4,914/t including the 13% VAT, and spot trading of construction steel paused from two days of rises, down 17.5% on day.
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China's national price of HRB400E 20mm dia rebar softened for the third working day on May 16 to a two-month low of Yuan 4,931/tonne ($726.7/t) including the 13% VAT, down by another Yuan 25/t on day, according to Mysteel's assessment.
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On May 12, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment reversed from just one day of incline, down by Yuan 8/tonne ($1.2/t) on day to Yuan 4,977/t including the 13% VAT, mainly due to sluggish demand from end-users and the bearish sentiment prevailing in the market amid COVID-related restrictions nationwide and heavy rainfalls in South China.
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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.
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On May 10, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment decreased for the fourth working day by another Yuan 51/tonne ($7.6/t) on day to touch a 1.5-month low of Yuan 4,969/t including the 13% VAT, largely due to bearish market sentiment amid the country's frequent resurgence of COVID-19 cases.
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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.
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On May 5, the first working day after China's Labour Day holiday, the national HRB400E 20mm dia rebar price under Mysteel's assessment continued trending upwards by another Yuan 51/tonne ($7.7/t) from April 29 to Yuan 5,142/t including the 13% VAT, suggesting the improvement in market sentiment.
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Chinese steel producers and traders attempted to hike their steel prices during the Labour Day holiday over April 30-May 4, though sales were thin over the holiday. But the relaxation of COVID-related logistics controls and more stimuli measures unveiled by Chinese government to help boost real estate and infrastructure sectors have been building up the market optimism, according to market sources.
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On April 28, China's national price of HRB400E 20mm dia rebar remained unchanged on day to Yuan 5,068/tonne ($761/t) including the 13% VAT, while spot sales of construction steel including rebar eased for the second day by another 2.4%, both according to Mysteel's assessments.
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On April 27, China's national price of HRB400E 20mm dia rebar rebounded after four days of softening, up by Yuan 21/t ($3.2/t) to Yuan 5,068/tonne including the 13% VAT, while spot sales of construction steel including rebar slipped 5% on day, both according to Mysteel's assessments.
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China's national price of HRB400E 20mm dia rebar under Mysteel's assessment declined for the fourth working day on April 26, down Yuan 13/tonne ($2/t) on day to Yuan 5,047/t including the 13% VAT, despite a 33.4% on-day surge in spot sales of construction steel.
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On April 25, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment declined for the third working day, down by a large Yuan 40/tonne ($6.1/t) from April 24 to Yuan 5,060/t including the 13% VAT. April 24 is a working weekend day in lieu of off-days during Labour Day holiday over April 30-May 4.
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On April 21, China's national price of HRB400E 20mm dia rebar grew for the eighth working day, up by another Yuan 6/tonne ($0.9/t) on day to Yuan 5,146/t including the 13% VAT, while spot sales of construction steel including rebar eased by 15% on day, both according to Mysteel's assessments.
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On April 20, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment increased for the seventh working day, up by another Yuan 15/tonne ($2.3/t) on day to Yuan 5,140/t including the 13% VAT, and spot sales of construction steel including rebar also rebounded by 9.55% on day.
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China's national price of HRB400E 20mm dia rebar had been on the uptrend for the sixth working day as of April 19, with another on-day rise of Yuan 9/tonne ($1.4/t) to reach Yuan 5,125/t including the 13% VAT, though spot sales of construction steel including rebar among 237 Chinese traders eased 18.5% on day after three working days of gains, both according to Mysteel's assessments.
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On April 18, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment grew further for the fifth working day though at a slower pace of just Yuan 1/tonne ($0.2/t) on day. Meanwhile, spot sales of construction steel including rebar continued to increase by 20.75% on day, as some end-users had to fulfill their replenishment needs despite the recent price increment.
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On April 15, China's national average price of HRB400E 20mm dia rebar under Mysteel's assessment continued to increase for the fourth consecutive working day by another Yuan 22/tonne ($3.5/t) on day to Yuan 5,115/t including the 13% VAT, mainly due to improved market sentiment.
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On April 14, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment rose for the third working day, though it was up by a tiny Yuan 1/tonne ($0.2/t) on day to Yuan 5,093/t including the 13% VAT, while spot trading of construction steel reversed up by 23.1%. The uptick in sales was probably due to speculative buying in the spot market.
