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China’s national average benchmark price for HRB 400 20mm dia rebar decreased further by another Yuan 24/tonne ($3.4/t) from last Friday to Yuan 3,623/t, including the 13% VAT as of March 30, according to Mysteel’s database. Trading volume also retreated slightly on the same day.
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Mysteel’s national average HRB400 20mm dia rebar benchmark price hovered at Yuan 3,650/tonne ($516.3/t) including the 13% VAT as of Thursday, nudging up Yuan 1/t on day. The benchmark has remained rangebound since mid-March, Mysteel Global noted.
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China’s national average benchmark price reversed up Yuan 8/tonne ($1.1/t) on day to Yuan 3,949/t, including the 13% VAT as of March 25, according to Mysteel’s database. Sales stabilised with better trading on the same day.
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Mysteel’s national average price for HRB400 20mm rebar benchmark reversed down by Yuan 25/tonne ($3.5/t) from last Friday to reach Yuan 3,647/t including the 13% VAT as of March 23. Trading has slowed down and market sentiment has turned more cautious, Mysteel Global noted.
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China’s national average benchmark price for HRB400 20mm dia rebar reversed down Yuan 13/tonne ($1.8/t) on day to Yuan 3,664/t, including the 13% VAT, as of March 19, mainly impacted by the bearish rebar futures market, according to Mysteel’s daily price tracker.
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China’s rebar price increased further and faster on March 16 to hit nearly one-month high, mainly thanks to better trading on the same day. Mysteel’s national average price for HRB400 20mm dia rebar gained Yuan 65/tonne ($9.3/t) on day to Yuan 3,670/t including the 13% VAT. Sales also climbed to a record of 3.5-month high.
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Mysteel’s Tangshan Q235 150mm square billet benchmark price, bellwether of China’s steel market sentiment, increased a total of Yuan 60/tonne ($8.6/t) over the weekend to Yuan 3,190/t EXW and including the VAT as of March 15. It is the highest level in the recent month, as local demand reached a “peak level”, according to a Chinese market source.
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Mysteel’s national average price for HRB400 20mm dia rebar benchmark remained unchanged from the previous day at Yuan 3,583/tonne ($515.2/t), including the 13% VAT as of March 10. Trading volume of long steel products amongst Chinese traders rose further and the increase in transactions encouraged traders to hold on to their offering prices, Mysteel Global has learned.
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Mysteel’s national HRB400 20mm dia rebar benchmark price hit Yuan 3,583/tonne ($516/t) including the 13% VAT on March 9, a 34.5-month low since the end of April 2017, after it declined another Yuan 17/t from last Friday.
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On March 6, Mysteel’s national average price for HRB400 20mm dia rebar refreshed its 34-month low of Yuan 3,600/t after declining Yuan 5/t on day, including the 13% VAT. Spot sales of construction steel dipped.
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As of March 4, Mysteel’s national HRB400 20mm dia rebar benchmark price remained weak at Yuan 3,605/tonne ($521/t) including the 13% VAT, after declining Yuan 6/t on day. This was mainly attributed to the delay in demand recovery, huge pressures from ballooning stocks as well as difficulties in cashflows, Mysteel Global learned.
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On March 3, Mysteel’s national HRB400 20mm dia rebar benchmark price remained unchanged amid shrinking trade while Mysteel’s Q235 square billet benchmark in Tangshan, North China, increased Yuan 40/t on day with the resumption of local downstream re-rollers.
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Mysteel’s national HRB400 20mm dia rebar benchmark price softened further by another Yuan 18/tonne ($2.6/t) on day to refresh its 34-month low of Yuan 3,611/t, including the 13% VAT, as of March 2. China’s steel trading rebounded on the same day as more downstream users had gradually returned to working order.
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Mysteel’s national average price for HRB400 20mm dia rebar declined for the third successive day by another Yuan 12/tonne ($1.7/t) on week to reach Yuan 3,655/t including the 13% VAT as of February 27. Demand recovery had been delayed and high levels of stocks are exerting huge pressure on the price, Mysteel Global has learned.
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Mysteel’s national HRB400 20mm dia rebar benchmark price softened further by Yuan 5/tonne ($0.7/t) on day to Yuan 3,667/t, including the 13% VAT on Wednesday after one-day modest recovery on Monday, the first-time ever mid-January, and China’s steel trading showed no signs of improvement even though more downstream users had gradually returned to working order.
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China’s national average price for HRB400 20mm dia rebar benchmark reversed down by Yuan 8/tonne ($1.1/t) on day to Yuan 3,672/t, including the 13% VAT as of February 25. Spot sales continued to stay low in China’s domestic steel market.
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Mysteel’s national average HRB400 20mm dia rebar benchmark continued to soften on Thursday to refresh its 33-month low to Yuan 3,668/tonne ($524/t) but trading improved significantly thanks to the gradual recovery of downstream demand.
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China's national average benchmark price for HRB400 20mm dia rebar decreased another Yuan 16/tonne ($2.3/t) on day to Yuan 3,677/t including the 13% VAT as of February 19, though it was still at a 33-month low. Steel demand remained largely weak though it was encouraging that construction steel spot trading volume had been recovering gradually.
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As of February 14, Mysteel’s national average price for HRB400 20mm dia rebar declined another Yuan 12/tonne ($1.7/t) on day to Yuan 3,730/t, while Tangshan Q235 150mm square billet price had remained unchanged since January 13 at Yuan 3,300/t EXW as of February 16, both including the 13% VAT, and spot sales of construction steel stayed low.
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China’s national average price for HRB400 20mm dia rebar continued to decrease for the ninth working day, down another Yuan 7/tonne ($1/t) on day to Yuan 3,742/t including the 13% VAT as of February 13, and spot sales stayed low in China’s domestic market.
