DAILY: China's rebar price recovers, sales wane

China's national price of HRB400E 20mm diameter rebar under Mysteel's assessment paused from a six-day fall as of January 12 to reach Yuan 4,041/tonne ($563.3/t) including the 13% VAT, though up by a tiny Yuan 4/t on day. Yet trading activities in the domestic construction steel market turned sluggish from the previous day's prosperity.

The spot trading volume of construction steel comprising rebar, wire rod and bar-in-coil among the 237 Chinese trading houses Mysteel regularly tracks tumbled by 22,904 tonnes/day or 16.2% on day to reach 118,880t/d on Friday. The subsided trading activities were mainly owing to the waning futures of rebar on the same