WEEKLY SUMMARY: China's major steel prices mixed

China's prices of major steel products, including rebar, square billet and hot-rolled coil (HRC), diverged over March 16-20, with prices of steel longs losing ground while those of HRC remaining firm overall.

Rebar: The national price of HRB400E 20mm dia rebar under Mysteel's assessment retreated in the second half of last week to reach Yuan 3,329/tonne ($482/t) including the 13% VAT as of March 20, lower by Yuan 10/t compared to one week earlier. Rebar prices in the derivatives market also weakened. The