China's national price of the HRB 400 20mm dia rebar, a bellwether of the domestic steel market’s sentiment, continued to grow by Yuan 2/tonne ($0.3/t) on day to Yuan 3,682/t including the 13% VAT as of May 9, a make-up working day in China after the Labour Day holiday. Long steel sales in spot market shrank further as prices increase persistently.
Source : https://www.mysteel.net/article