China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment had been steadily strengthening for the fourth working day, up another Yuan 27/tonne ($4.2/t) on day, though spot sales of construction steel including rebar had been fluctuating so far in September, down for the second working day and substantially by 26.9% on day, indicating the uptrend in the steel demand had yet been confirmed amid uncertainties in market outlook and price rises.
On Tuesday, the rebar price rose to Yuan 5,419/t and including the 13% VAT, while the daily trading volume of construction steel also comprising wire rod and bar-in-coil among China’s 237 traders under Mysteel’s tracking declined further by 70,120 tonnes/day on day to 190,880 t/d.