DAILY: China's rebar price edges up, spot sales decline

ABSTRACT
China's national price of HRB400E 20mm dia rebar under Mysteel's assessment rose further on March 8, though up by a tiny Yuan 7/tonne ($1/t) on day to Yuan 4,363/t including the 13% VAT, while spot sales of construction steel retreated from the previous day's gain.

On Wednesday, the trading volume of construction steel comprising rebar, wire rod and bar-in-coil among 237 Chinese trading houses under Mysteel's tracking dropped by 43,119 tonnes/day or 22.6% to 147,579 t/d. Although the overall sentiment in the domestic steel market was relatively optimistic throughout yesterday, the actual steel demand from