DAILY: China rebar price reverses up on strong trading
Oct 29, 2020 10:30
China’s national price of HRB400 20mm dia rebar reversed up on Wednesday, back to the mid-October level of Yuan 3,825/tonne ($568.5/t) including the 13% VAT. Steel trading had been strong so far this week, although the on-day increase was merely Yuan 7/t, Mysteel Global noted.
On Wednesday, the trading volume of rebar, wire rod and bar-in-coil reversed up by 28,932 t/d or 12% on day to reach 269,721 t/d, a new high since October 9. The trading had been persistently above 240,000 t/d over Monday-Wednesday, far above the normal day level of 200,000 t/d, according