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DAILY: China steel prices slip further, sentiment worse

China’s national average price of HRB400 20mm dia rebar assessed by Mysteel, an indicator of China’s steel market dynamics, declined by another Yuan 15/tonne ($2.2/t) from last Friday to Yuan 3,780/t including the 13% VAT as of September 21. The price had softened for five working days in a row and market sentiment deteriorated as steel demand had remained weak.
On Monday, trading of construction steel comprising rebar, wire rod and bar-in-coil totalled 213,102 tonnes/day, reversing down 23,850 t/d or 10.1% from last Friday, according to Mysteel’s daily monitor across 237 steel traders in China. The trading was far below the previous market expectation that September would be a robust


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