Sales increased in China as rebar prices rose by the end of the week

According to Chinese local sources, China's national HRB400E 20mm rebar price increased in succession and reached 4.297 Yuan/Ton (13% VAT included) as of February 20, increasing 9 yuan/ton ($ 1.3/ton) per day.

Spot sales for round bars increased over 200,000 tons.

On Monday, according to the report of global research companies, 237 Chinese trade companies reached 200,117 tons with a large increase of rebar, wire rod and coils, and round bars trade volume of 52,892 tons/day or 36% of increase.

According to the research of the sources, the optimistic atmosphere was dominated in the market yesterday and the demand for domestic steel from buyers increased gradually with the warming of the weather throughout the country.

China's futures rebar prices have increased even more during yesterday. For example, the most traded May -futures rebar Agreement on the Shanghai futures stock exchange won 22 yuan/tons or 0.5 % of the last Friday agreement price to close 4,184 Yuan/ton in daytime purchases on Monday.

However, according to market experts' comments, the price of Tangshan Q235 150mm square billets in Hebei province of North China remained unchanged at the level of 3,870 YUAN/TON EXW, including 13% VAT on Monday, and semi -finished prices remained largely fixed.