Posted on 25 Jul 2025
China's spot rebar prices surged to a nearly five-month high on July 22, crossing the Yuan 3,400/tonne ($474/t) mark after gaining for four consecutive working days. The same day, spot trading activity for construction steel, including rebar, remained robust, though it dipped by a small 1.4% from the previous day.
On Tuesday, the national price of HRB400E 20mm dia rebar under Mysteel's assessment jumped by Yuan 45/t from Monday to reach Yuan 3,429/t, the highest level since early March.
Meanwhile, the spot trading volume of long steel products, also including wire rod and bar-in-coil, among the 237 commercial houses nationwide that Mysteel monitors stayed high at 126,073 tonnes/day, down only slightly by 1758 t/d or 1.4% from the day prior.
The strong market performance mirrored rising confidence fueled by a plan revealed by China's top energy regulator yesterday to crack down on overproduction at domestic coal mines, Mysteel Global noted.
China's ferrous derivatives gained strength across the board yesterday. Particularly, the most-traded September contracts for coking coal and coke in Dalian Commodity Exchange hit their daily upper limits by the close of the daytime trading sessions.
On the Shanghai Futures Exchange, the most-traded rebar contract for October delivery also soared by Yuan 100/t or 3.1% from Monday's settlement price to close at Yuan 3,307/t when the daytime trading session ended on Tuesday, according to the exchange's data.
Market sentiment has been buoyed by multiple favourable policy signals lately, including the announcement of anti-involution policy earlier this month as well as the recent inauguration of the Yuan 1.2 trillion mega hydropower project in the lower reaches of the Yarlung Zangbo River, as reported.
Along with this wave of price hikes, the Q235 150mm square billet price in North China's Tangshan drifted high too, surging by Yuan 70/t on day to Yuan 3,130/t EXW including the VAT on Tuesday, according to Mysteel's assessment.
Source:Mysteel Global
