WEEKLY SUMMARY: China's major steel prices tick up, but pressure persists

China's prices of major steel products, including rebar and hot-rolled coil (HRC) logged modest on-week gains amid fluctuations over November 17-21, strengthening in the first half of the week on the back of positive market sentiment and cost support before retreating later due to weak demand, Mysteel Global learned.

Rebar: As of November 21, the national price of HRB400E 20mm dia rebar was assessed by Mysteel at Yuan 3,268/tonne ($460/t) including the 13% VAT, still higher by Yuan 26/t on week though it had slipped by Yuan 11/t from that on November 18. In the derivatives market, the most-traded rebar