China’s rebar price soaring post CNY holiday

China's national price of the HRB400 20mm dia rebar soared for the second day on February 19 after the Chinese New Year (CNY) holiday, gaining another Yuan 76/tonne ($11.8/t) on day to Yuan 4,554/t and including the 13% VAT, according to Mysteel's assessment, which strongly indicated the domestic steel market optimism on the revival in the domestic demand soon and the remaining support from the rising raw material prices. structural steel manufacturer