On March 30, the price of HRB400 20 mm diameter rebar in China reached its 9.5 year high of 4,911 yuan/ton ($755 / t) ex factory price, including 13% VAT, despite the cautious market, daily trading volume of construction steel declined according to Mysteel research, On the second working day, the daily workload increased by another 18.4 percent.
By Tuesday, rebar prices had strengthened for the fourth working day in a row, albeit at a slower pace, with prices rising by only 4 yuan per ton, mainly due to market confidence that demand will remain strong season amid strong demand, while supply is unlikely to run short.