On March 30, the national price of China’s HRB400 20mm diameter rebar reached its 9.5-year high of 4,911 yuan/ton ($755/t) ex-factory price, including 13% value-added tax, despite the cautious market, daily transactions of construction steel According to Mysteel's survey, the daily workload on the second working day increased by 18.4%.
By Tuesday, the price of rebar had strengthened for the fourth working day in a row. Although the pace has slowed down, the price has only increased by 4 yuan/ton, mainly because the market’s confidence in fundamentals believes that demand will remain in the strong demand. Strong season, and supply is unlikely to be short.