WEEKLY SUMMARY: China's major steel prices strengthen

China's prices of major steel products, including rebar, square billet and hot-rolled coil (HRC), moved up over March 9-13 amid positive market sentiment and firmer cost support with the increased prices of imported iron ore.

Rebar: As of March 13, the national price of HRB400E 20mm dia rebar under Mysteel's assessment came in at Yuan 3,339/tonne ($484/t) including the 13% VAT, growing by Yuan 39/t from one week before. Rebar futures prices continued to strengthen last week, with the most-traded contract on the Shanghai Futures Exchange