Posted on 13 Feb 2025
China's rebar prices marked a third consecutive day of decline as of February 12, with both physical and derivatives markets reflecting the prevailing loss of market confidence.
According to Mysteel's assessment, the national price of HRB400E 20mm dia rebar dropped by Yuan 12/tonne ($1.6/t) from Tuesday, reaching Yuan 3,453/t, including 13% VAT, on Wednesday.
In the futures market, the most-traded rebar contract for May delivery on the Shanghai Futures Exchange lost Yuan 10/t, or 0.3%, compared to the prior day's settlement price, closing Wednesday's daytime session at Yuan 3,292/t.
In fact, the finished steel market yesterday was still absorbing the effects of the sharp price drop seen in the SHFE rebar futures on Tuesday, when the main contract fell by 1.95%, prompting some steel mills to cut their prices for construction steel.
Mysteel's survey revealed that on Wednesday, four steelmakers across the country lowered their offering prices by Yuan 20-30/t for construction steel sales, though the actual transactions remained limited due to the lack of downstream demand.
The semi-finished steel market maintained stability on the same day, with the Q235 150mm square billet price in Tangshan holding steady at Yuan 3,040/t EXW, including VAT, on Wednesday, according to Mysteel's assessment.
Source:Mysteel Global
