China’s national HRB400 20mm dia rebar benchmark price, the most sensitive price to the country’s steel market sentiment, stopped from the decline on December 27 after nearly two weeks of softening, staying at its two-month low of Yuan 3,824/tonne ($546.3/t) including the 13% VAT, and spot sales of long steel increased by 10%. Last Friday, China’s spot sales of rebar, wire rod and bar-in-coil among 237 long steel traders under Mysteel’s daily survey increased further to 161,138 tonnes/day, or up 15,720 t/d or 10.8% on day, according to Mysteel’s database, though the volume was still reflecting a traditional lacklustre demand season in cold winter in China.
Source:https://www.mysteel.net/article