DAILY: China rebar price continues softening, trade up
Sep 23, 2020 10:30
China’s national average price of HRB400 20mm dia rebar assessed by Mysteel continued to weaken for the sixth working day on Tuesday, down another Yuan 12/tonne ($1.8/t) on day to Yuan 3,768/t including the 13% VAT as of September 22. Steel trade picked up slightly after the recent continuous price drops.
The rebar price had declined by a total of Yuan 90/t so far in September, Mysteel Global noted. It was mainly due to the weak steel trading, which did not improve as the Chinese market participants had expected for the supposed “golden” month of steel consumption, Mysteel Global understands.