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China’s Metal Market: Steel Prices Continue To Fall

China major steel prices dip further, sales poor

On February 24, China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment declined for the second day by another Yuan 27/tonne ($4.3/t) on day to Yuan 4,903/t including the 13% VAT, and spot trading of construction steel plunged by 24.8% on day, indicating a cautious stance from the market amid the uncertainties.

China imported iron ore prices up, sales cool

The price of imported iron ore for both portside inventories and seaborne cargoes in China increased on February 28, with trading in both markets cool.

China’s rebar price fall slows, sales up 70.6%

On February 28, China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment fell for the fourth working day but at a slower pace, down by a tiny Yuan 1/tonne ($0.2/t) on day to Yuan 4,868/t including the 13% VAT, while spot trading of construction steel soared by 70.6%, as demand showed signs of slight improvement despite the remaining uncertainties in the market.

Source from mysteel.net

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