WEEKLY SUMMARY: China's major steel prices lack upward strength

China's prices of major steel products, including rebar, square billet and hot-rolled coil (HRC), continued to diverge during March 23-27, with prices of rebar edging down further, while those of HRC stayed relatively firm.

Rebar: As of March 27, Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,324/tonne ($481/t) including the 13% VAT, dipping by Yuan 5/t from one week before. Rebar futures prices also kept rangebound, as the most-traded contract on the Shanghai Futures Exchange for May delivery closed the