SHANGHAI, Mar. 29 (SMM) - SMM sources reported about 100 rebar cargo holders were shut down, with goods in excess of 100,000 mt. Aside from resources from some steel plants in Shanxi, those goods include second grade rebar from Dazhou Iron & Steel and Shuicheng Iron & Steel. Resources that were shut down during Wednesday and Friday had not been delivered yet. Chongqing Administration of Industry and Commerce will give a response to the issue next week.
According to a Steelease survey of building sites, the standard, quantity and material of steel purchased are stipulated during designing process. Any adjustment needs to be allowed in many procedures. Third grade rebar prices in Chongqing weakened yesterday, with transactions muted. Prices for third grade rebar at Dazhou Iron & Steel were RMB 3,860/mt.
Policy basis: the NO.1 revised GB1499.1-2008 Reinforced Concrete Steel Part 1: Hot Rolling Rebar , which was promulgated on December 13th, 2012 canceled all contents for HPB235, and revised to HPB300 instead, which took effect on January 1st 2013. That reflects HPB235 is unqualified for national standard, which has been produced since the start of this year. The production and business operation of second grade rebar is not proved illegal in any documents.