WEEKLY SUMMARY: China's major steel prices rebound

China's major steel prices including rebar and hot-rolled coil (HRC) rallied in both spot and futures markets over June 26-30, as higher raw material prices lent some support to steel prices, Mysteel Global noted.

Rebar: China's national price of HRB400E 20mm dia rebar under Mysteel's assessment gained by Yuan 54/tonne ($7.5/t) from June 26 to Yuan 3,855/t including the 13% VAT as of June 30. Meanwhile, the spot trading of construction steel comprising rebar, wire rod and bar-in-coil among 237 Chinese trading houses under Mysteel's