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On October 19, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment dipped for the seventh working day though the pace slowed with the on-day decline at just Yuan 4/tonne ($0.6/t), while spot sales of construction steel including rebar gained for the second working day by 5.1% on day, as demand showed signs of modest pick-up.
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On October 18, Mysteel's assessments showed that China's national price of HRB400E 20mm dia rebar slipped for the sixth working day by another Yuan 57/tonne ($8.9/t) from last Friday, and spot sales of construction steel including rebar still hovered low despite a recovery of 2% from last Friday, showing market trading enthusiasm stayed tepid.
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Both the Tangshan Q235 150mm square billet price and China’s national price of HRB400E 20mm dia rebar fell in Mysteel’s latest assessment, with the former down Yuan 50/tonne ($7.8/t) on October 17 against last Friday, and the latter down Yuan 2/t on day on October 15, both due to poor trading, according to market sources.
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On October 14, Mysteel’s assessments showed that China’s national price of HRB400E 20mm dia rebar declined for the fourth working day though at a slower pace of Yuan 16/tonne ($2.5/t) on day, while spot sales of construction steel including rebar grew for the second day by 9.6% on day, indicating more buying with prices now below Yuan 6,000/t threshold again.
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On October 13, Mysteel’s assessments showed that China’s national price of HRB400E 20mm dia rebar declined for the third working day by Yuan 77/tonne ($12/t) on day, though spot sales of construction steel including rebar rebounded after three working days of declines, up by 35.4% on day, indicating the market sentiment had yet been settled.
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On October 12, Mysteel’s assessments showed that China’s national price of HRB400E 20mm dia rebar declined for the second working day by Yuan 59/tonne ($9.2/t) on day, and spot sales of construction steel including rebar fell to its seven-month low after having dropped for the third working day by 26.5% on day due to recent surges in prices and the anticipation on weakening demand in winter.
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On October 11, China’s national price of HRB400E dia rebar slipped by Yuan 4/tonne ($0.6/t) on day to Yuan 6,035/t and including the 13% VAT, according to Mysteel’s assessment, bringing an end to the steady rise seen over the prior six working days.
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On October 9, a make-up working day in China after the National Day holiday, the country's national price of HRB400E 20mm dia rebar, under Mysteel's assessment, refreshed its new high since May 17 to reach Yuan 6,039/tonne ($937/t) and including the 13% VAT, or up by Yuan 16/t from last Friday and increasing for a sixth working day.
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As of October 7, Tangshan Q235 150mm square billet price, the barometer of China’s spot steel market sentiment, touched its 4.5-month high of Yuan 5,290/tonne ($821/t) EXW and including the VAT after gaining Yuan 80/t from September 30 despite that the country was on National Day holiday over October 1-7, Mysteel's assessment showed.
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On September 29, China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment hit the highest since May 17, or up for the third working day by Yuan 45/tonne ($7/t), though spot trading of construction steel accelerated the pace in decline, down for the second day by 16% on day mainly as the trading enthusiasm had been dampened by the price rises.
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On September 28, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment reached a new high since May 18, or up for the second working day by Yuan 41/tonne ($6.3/t), and spot trading of construction steel held rather high, down but merely 0.6% on day, indicating robustness in the spot market before the National Day holiday over October 1-7.
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On September 27, China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment gained Yuan 22/tonne ($3.4/t) on day after a one-day stability, and spot sales of construction steel increased by 14.1% on day partly due to some replenishment needs among the end-users and traders ahead of the long National Day holiday over October 1-7.
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On September 23, China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment gained for the fifth working day though at a slower pace of Yuan 24/tonne ($3.7/t), as output and stocks had been declining, but spot sales of construction steel wavered, reversing from two working days of gains, down 24.9% on day.
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On September 22, China’s national price of HRB400E 20mm dia rebar assessed by Mysteel climbed up to its four-month high of Yuan 5,754/tonne ($892/t) including the 13% VAT, or up for the fourth working day by Yuan 86/t, as demand had been recovering while output had been declining, and spot sales of construction steel had been growing slowly and gradually, up another 0.7% on day.
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On September 18, a make-up working day in China, the country’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment grew for the third working day and at a faster pace of Yuan 62/tonne ($9.6/t), and spot sales of construction steel also recovered by 13.7% on day, as some end-users replenished some quantities despite the recent price rises.
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On September 16, China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment reversed from two days of declines, up Yuan 45/tonne ($7/t) on day, and the spot sales of construction steel including rebar grew for the third day by another 11.3% on day, as market confidence strengthened on declines in both steel stocks and steel output.
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China’s national price of HRB400E 20mm dia rebar declined for the second day on September 15, according to Mysteel’s assessment, edging down by Yuan 18/tonne ($2.8/t) from Tuesday to Yuan 5,557/t including the 13% VAT. Market sources noted that rebar futures prices on the Shanghai Futures Exchange (SHFE) dipped yesterday and that some mills trimmed ex-works prices.
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On September 14, Mysteel’s assessments showed that China’s national price of HRB400E 20mm dia rebar reversed from three working days of rises, down Yuan 14/tonne ($2.2/t), though spot sales of construction steel recovered from two working days of declines by 7%, indicating the remaining uncertainties in the steel market.
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On September 13, China’s national price of HRB400E 20mm dia rebar assessed by Mysteel increased for the third working day by another Yuan 64/tonne ($9.9/t), while spot sales of construction steel including rebar fell for the second working day, down 18.4%, both according to Mysteel’s tracking and against September 10, suggesting the mixed market sentiment for the time being.
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On September 9, China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment rebounded after just one day of retreat, up Yuan 50/tonne ($7.7/t) on day, and the spot sales of construction steel including rebar reversed from three days of declines, jumping 37.7% on day to a four-month high, partly as market sentiment improved on noting the continuing declines in finished steel stocks.
