WEEKLY SUMMARY: China's major steel prices diverge

China's spot prices of major steel products, including rebar, square billet and hot-rolled coil (HRC), diverged over November 10-14, with prices of rebar and square billet recovering slightly amid the improved sentiment, while those of HRC remained weak due to the lackluster demand, Mysteel Global learned.

Rebar: On November 14, Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,242/tonne ($456/t) including the 13% VAT, growing by Yuan 17/t from one week before. On the same day, the most-traded rebar contract on the Shanghai Futures Exchange for next January delivery closed the daytime trading