Chinese rebar price inches up, sales slip further

On January 27th, Chinese rebar price inched up for the second day by another 4 Yuan/Ton (0.6$/Ton) on day, while the domestic spot sales of construction steel including rebar, wire rod and bar-in-coil decreased for the fourth day though still at a 10-month low level, down another 7.1% on day.

On Wednesday, the national price of HRB400 20mm dia rebar reached 4,354 Yuan/Ton and including the 13% VAT, while the daily trading volume of construction steel among Chinese 237 steel trading houses added up to merely 61,128 Ton/Day.