As of September 26, China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment stayed unchanged at Yuan 5,751/tonne ($889/t) including the 13% VAT after a Yuan 27/t on-day fall last Friday, though daily trading volume of construction steel recovered strongly by nearly 23% from September 24 partly due to the pre-holiday replenishment.
September 26 was a make-up working day in China because of the long National Day holiday over October 1-7, and the spot trading of rebar, wire rod and bar-in-coil among China’s237 traders under Mysteel’s tracking totalled 230,159 tonnes/day, or having reversing up 42,820 t/d from last Friday after have softened over September 22-23.