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On January 25, China’s rebar price reversed down though by just Yuan 4/tonne ($0.6/t), and spot sales of construction steel including rebar, wire rod and bar-in-coil in China’s domestic market declined for the second working day, down another 3.3% on day, according to Mysteel’s surveys.
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On January 22, China’s spot sales of construction steel including rebar, wire rod and bar-in-coil among the country’s 237 trading houses slumped to 84,355 tonnes/day, or a new low since February 28 2020 after a 19.7% on-day fall, though the country’s national rebar price gained Yuan 6/tonne ($0.9/t) on day, according to Mysteel’s surveys.
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On January 21, China’s rebar price recovered marginally by Yuan 4/tonne ($0.6/t) on day after two days of softening, and spot sales of construction steel including rebar, wire rod and bar-in-coil also saw an uptick though by merely 0.6% on day, according to Mysteel’s survey.
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On January 20, China’s rebar price declined for the second working day by another Yuan 10/tonne ($1.5/t), and daily sales of construction steel including rebar, wire rod and bar-in-coil declined for the third working day, down another 6.1%, according to Mysteel’s monitoring.
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On January 19, China’s rebar price reversed down by Yuan 10/tonne ($1.5/t), and the daily sales of construction steel including rebar, wire rod and bar-in coil fell to its 10-month low of 111,295 tonnes/day, Mysteel global noted.
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On January 18, China’s rebar price inched up for the second working day by another Yuan 3/tonne ($0.5/t) from last Friday, while the daily sales of construction steel including rebar, wire rod and bar-in-coil had been fluctuating, and it reversed down 9.5% from last Friday again on Monday, Mysteel Global noted.
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On January 15, China’s rebar price inched up by Yuan 3/tonne ($0.5/t) after four days of softening, though still hovering below Yuan 4,400/t since last Tuesday, and the spot sales of construction steel including rebar jumped 28% on day after five days of steep declines, Mysteel Global noted.
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On January 14, China’s rebar price went down for the fourth working day, falling another Yuan 18/tonne ($2.8/t) on day, and the domestic spot sales of construction steel including rebar, wire rod and bar in coil hovered at a 10-month low level by ebbing another 0.3% on day, Mysteel Global noted.
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On January 13, the spot sales of construction steel in China including rebar, wire rod and bar in coil refreshed its low in over 10 months, down another 4.2% on day, and China’s national rebar price also declined for the third working day by Yuan 18/tonne ($2.8/t), Mysteel Global noted.
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On January 12, the spot sales of construction steel in China fell to an over 10-month low after three consecutive working days of decreases as the actual demand shrank in the cold winter days and China’s national rebar price subsided to below Yuan 4,400/tonne ($679.4/t) after having persisted above the level since January 4, according to Mysteel’s market surveys.
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On January 11, China’s rebar price held above Yuan 4,400/tonne ($679.4/t) for sixth straight working days, having edged down from last Friday but by just Yuan 13/tonne, while the spot sales of construction steel stayed on the downtrend, decreasing another 4% from last Friday on less demand in colder days, Mysteel Global noted.
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On January 8, China’s rebar price remained largely steady at about Yuan 4,400/tonne ($679.3/t), inching up only modestly on day by Yuan 10/t after have stayed unchanged for three days, while the spot sales of construction steel continued to fluctuate by reversing down 11.5% on day, Mysteel Global observed.
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On January 7, China’s rebar price remained unchanged for the third straight day, while the spot sales of construction steel fluctuated, reversing up 18.4% on day after the sharp decline in the prior day, and rebar futures prices rebounded too, Mysteel Global noted.
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On January 6, China’s national price of HRB400 20mm dia rebar stood unchanged on day at Yuan 4,422/tonne ($685/t) including the 13% VAT after three days of gains, but the spot sales of construction steel fell sharply for the second day by 20.2% on day, as the demand from the end-users stayed lackluster and traders acted cautiously in restocking, Mysteel Global noted.
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On January 5, China’s rebar price moved up for the third working day by another Yuan 20/tonne, while the spot sales of construction steel decreased by 18.4% on day, as many domestic traders preferred to monitor the price movement a while longer, Mysteel Global noted.
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China’s rebar price gained for the second day on January 4, and the domestic steel market sentiment improved on noting the spot sales of construction steel spiked due to speculative buying and restocking needs ahead of the one-week long Chinese New Year holiday starting February 11, Mysteel Global noted.
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On December 31, China’s rebar price ended six consecutive days of declines, partly on the support of the recovery in the rebar futures prices on Shanghai Futures Exchange (SHFE), the spot sales of construction steel, however, reversed down though just marginally, Mysteel Global noted.
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China’s rebar price narrowed for the sixth consecutive day on December 30, while construction steel sales reversed up after a two-day decline, Mysteel Global noted.
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On December 29, China’s rebar and Tangshan billet prices continued on their downtrend, with construction steel sales also softening for the second working day as the cold air hits many of the domestic regions, Mysteel Global noted.
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On December 28, steel prices in China decreased further, with rebar price declining for the fourth day and Tangshan billet price dipping for the third day. Besides, construction steel sales reversed down after last Friday’s rebound, Mysteel Global assessed.
