On December 29, according to Mysteel's assessment, China's national HRB400E 20mm diameter rebar price was renewed at a one-month low of Yuan 4,740/t ($744/t) including 13% VAT, or for the seventh business day. Another 25 Yuan fell. Spot trading of T and rebar, including rebar, reversed from just a one-day recovery and fell 6.6% on the day.
On Wednesday, daily trade volume of construction steel, including wire rod and rod-in-bar, among 237 Chinese traders, was 133,955 tons/day, down 9,480 tons/day as end-user demand decreased with temperatures, according to Mysteel's survey. The winter months were down and traders were reluctant to replenish high levels.
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