WEEKLY SUMMARY: China’s steel prices trend up further

Carbon steel prices in China’s domestic spot and futures markets moved up further over February 22-26, propelled by sustained optimism about business fundamentals. However, the momentum had slowed by week’s end as actual demand had not fully recovered, Mysteel Global noted.

Rebar: China’s HRB400 20mm dia rebar price gained Yuan 134/tonne ($20.7/t) on week to reach Yuan 4,688/t including the 13% VAT as of February 26, Mysteel’s data showed. But the resumption of real demand among end-users proved patchy, slowing the pace of the price rise. The daily trading volume of