For September, prices of construction steel comprising rebar and wire rod across China are projected to bounce back, though the room may be limited, Mysteel predicts in its monthly report. Firming production costs will likely lend the prices some resilience but uncertainties regarding steel demand may cause them to fluctuate frequently this month, the report said.
During the first half of August, Chinese construction steel prices fell to low levels before subsequently staying rangebound at lows, the report explained.
Consequently, the country's national price of HRB400E 20mm dia rebar, a barometer of steel-market sentiment, had slumped by Yuan 110/tonne ($15.1/t) on month to Yuan 3,776/t and
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