WEEKLY SUMMARY: China's major steel prices remain weak overall

China's prices of major steel products, including rebar, square billet and hot-rolled coil (HRC), remained weak in the past week with thin demand from end-users, though the prices recovered slightly on Friday, driven by the strengthening prices of steelmaking raw materials.

Rebar: As of June 27, the national price of HRB400E 20mm dia rebar under Mysteel's assessment came in at Yuan 3,198/tonne ($446/t) including the 13% VAT, still lower by Yuan 22/t on week despite the rise of Yuan 8/t from the previous day. In the derivatives market, the most-traded rebar contract