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DAILY: China rebar price sinks further on lukewarm sales

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.
Last Friday, trading volume of construction steel including rebar, wire rod and bar-in-coil totalled 223,043 tonnes/day. It increased 39,861 t/d or a notable 21.8% from a one-month low on August 20, according to Mysteel’s survey across 237 Chinese steel traders nationwide. However, recent sales were still not strong enough to


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