Daily: China’s rebar price up further on better sentiment
- my steel
- Rentai steel
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Mysteel’s national average price of HRB400 20mm dia rebar rose for the second day as of April 2, gaining another Yuan 24/tonne ($3.6/t) on day to Yuan 4,086/t including the 13% VAT, and the market sentiment stayed buoyant into April.
On Tuesday, many long steel producers in China lifted theirrebar list prices by Yuan10-60/t for spot sales, showing the mills’ optimism on the domestic steel market in the near term, and the price rise has not dampened the market demand especially for construction steel.