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DAILY: China’s rebar price rise fast as trade spikes

China’s national price of HRB400 20mm dia rebar increased substantially by Yuan 32/tonne ($4.7/t) on day to Yuan 3,858/t including the 13% VAT on Monday. Steel trading thrived and Chinese market insiders believed that the robust demand season might really have arrived as they had expected.
On August 31, the trading volume of construction steel comprising of rebar, wire rod and bar-in-coil hit a one-month high at 267,903 tonnes/day, up 24,053 t/d or nearly 10% on day, according to Mysteel’s survey across 237 Chinese steel traders nationwide. “Sales improved drastically compared with last week and the market is clearly in a


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