WEEKLY SUMMARY: Improved sentiment boosts China's major steel prices

China's prices of major steel products, including rebar, square billet and hot-rolled coil (HRC), recovered over May 12-16, as overall sentiment in the domestic steel market improved thanks to the easing trade tensions between China and the United States.

The world's two largest economies had announced on May 12 to temporarily roll back high tariffs on each other's goods, and the measures officially took effect on May 14, as reported. Rebar: As of May 16, the national price of HRB400E 20mm dia rebar under Mysteel's assessment came in at Yuan