DAILY: China’s rebar price steady, trading softens
Jun 23, 2020 10:30
China’s domestic rebar price remained rangebound of late amid softening demand and strong support from the high raw material prices. China’s price of HRB400 20mm dia rebar assessed by Mysteel increase further by Yuan 6/tonne ($0.8/t) from last Friday to Yuan 3,802/t including the 13% VAT as of June 22.
Also on Monday, the trading volume of construction steel comprising rebar, wire rod and bar-in-coil among 237 traders across China declined 44,053 tonnes/day or 18% from last Friday to 200,635 t/d, Mysteel’s data showed.
“Most of the market insiders are adopting a wait-and-see stance, as the frequent rains in East and