DAILY: China’s rebar price rise fast as trade spikes
Sep 01, 2020 10:30
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