China rebar price ends Apr at a new 9.5-year high

On April 30, China’s national HRB 400E 20mm rebar price surfed to a new 9.5-year high after an on-day gain of Yuan 15/tonne ($2.3/t) to Yuan 5,255/t including the 13% VAT, while spot sales of construction steel reversed down by 30% on day, according to Mysteel’s market surveys.
Last Friday, rebar price strengthened for the second working day, while the daily trading volume of construction steel comprising rebar, wire rod and bar-in-coil among China’s 237 steel traders under Mysteel’s monitoring subsided on the last working day before the Labour Day holiday, down 87,501 tonnes/day on day to 204,119