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China’s national average price of HRB400 20mm dia rebar assessed by Mysteel continued to weaken for the sixth working day on Tuesday, down another Yuan 12/tonne ($1.8/t) on day to Yuan 3,768/t including the 13% VAT as of September 22. Steel trade picked up slightly after the recent continuous price drops.
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China’s national average price of HRB400 20mm dia rebar assessed by Mysteel, an indicator of China’s steel market dynamics, declined by another Yuan 15/tonne ($2.2/t) from last Friday to Yuan 3,780/t including the 13% VAT as of September 21. The price had softened for five working days in a row and market sentiment deteriorated as steel demand had remained weak.
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China’s national average HRB400 20mm dia rebar price slipped for the third day as of September 17, down another Yuan 10/tonne ($1.5/t) on day to Yuan 3,796/t including the 13% VAT, and the slight recovery in trading and depletion of inventories seemed to have failed to ease the current pessimism, Mysteel Global understands.
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China’s price of HRB400 20mm rebar inched up Yuan 5/tonne ($0.7/t) from September 11 to reach Yuan 3,829/t including the 13% VAT as of September 14, Mysteel’s data showed. Actual transactions in the spot market reversed down slightly on Monday.
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China’s price of HRB400 20mm dia rebar was assessed at Yuan 3,861/tonne ($565.3/t) including the 13% VAT as of September 7 after inching down Yuan 4/t from last Friday. The slight drop in price boosted sales marginally, Mysteel Global noted.
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Chinese steel prices reversed down on September 4 as steel demand remained low. It had improved slower than the Chinese steel market insiders expected for the busy season during September-October.
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China’s price of HRB400 20mm dia rebar slipped by Yuan 3/tonne ($0.4/t) on day to Yuan 3,861/t including the 13% VAT as of September 2, Mysteel’s data showed, although sales in the spot market stayed stable.
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China’s price of HRB400 20mm rebar increased for the second working day by another Yuan 6/tonne ($0.9/t) on day to Yuan 3,864/t including the 13% VAT as of September 1, but the trading volume in the spot market slumped, according to Mysteel’s daily tracking.
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China’s national price of HRB400 20mm dia rebar increased substantially by Yuan 32/tonne ($4.7/t) on day to Yuan 3,858/t including the 13% VAT on Monday. Steel trading thrived and Chinese market insiders believed that the robust demand season might really have arrived as they had expected.
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China’s rebar price declined further on August 27 given the weakening sales as well as the continuous rise in stocks, Mysteel Global noted.
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China’s national price of HRB400 20mm dia rebar has been hovering at Yuan 3,830-3,840/tonne ($554.3-555.7/t) this week. It reversed up Yuan 2/t on day to Yuan 3,835/t including the 13% VAT on Tuesday. Steel trading came in at an average level on Monday.
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China’s national price of HRB400 20mm dia rebar that Mysteel assesses daily softened for the third day on August 21 to Yuan 3,838/tonne ($554.6/t) including the VAT, down another Yuan 3/t on day. Steel trading, although it has improved, was below the market’s expectation.
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China’s national price of HRB400 20mm dia rebar strengthened further on Tuesday, up another Yuan 9/tonne ($1.3/t) on day to Yuan 3,852/t including the 13% VAT. However, trading retreated after the latest price increase and the sales nationwide were at a moderate level.
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China’s price of HRB400 20mm dia rebar increased Yuan 11/tonne ($1.6/t) from last Friday to Yuan 3,843/t including the 13% VAT as of August 17, Mysteel’s data showed, as the improved sales stimulated rebar price to rise.
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China’s national price of HRB400 20mm dia rebar that Mysteel assessed edged down for the fourth day by another Yuan 8/tonne ($1.2/t) on day to Yuan 3,838/t including the 13% VAT as of August 12. Demand retreated due to heavy rainfalls in North and Southwest China and high temperature in South and East China.
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China’s price of HRB400 20mm rebar slipped down further by Yuan 13/tonne ($1.9/t) from last Friday to Yuan 3,848/t including the 13% VAT as of August 10, Mysteel’s data showed. However, transactions in the spot market saw improvements.
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China’s national price of HRB400 20mm dia rebar hit a new high since December 23 2019 after increasing for the seventh consecutive working day. It increased Yuan 13/tonne ($1.9/t) on day and hit Yuan 3,865/t including the 13% VAT on August 6. It was mainly thanks to the prevalent optimistic expectation of a robust demand this fall, although some insiders showed worries over the steady price increments.
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China’s price of HRB400 20mm dia rebar remained relatively stable on August 5 and refreshed its two-month high since June 4, inching up by a mere Yuan 1/t ($0.14/t) on day to Yuan 3,852/t including the 13% VAT. It was propped up by the recovery in sales after the typhoon, Mysteel Global noted.
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The trading volume of rebar, wire rod and bar-in-coil among 237 traders across China hit a new high since May 18 to 305,432 tonnes/day as of August 3, after rebounding 95,985 t/d from last Friday, Mysteel’s data showed. Robust sales also stimulated rebar price increase on Monday.
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China’s price of HRB400 20mm dia rebar remained largely stable on July 30, being up a mere Yuan 4/tonne ($0.6/t) on day at Yuan 3,800/t including the 13% VAT, Mysteel’s data showed. Transactions in the spot market softened, however.
