WEEKLY SUMMARY: China's major steel prices keep rangebound

China's prices of major steel products, including rebar, square billet and hot-rolled coil (HRC), kept rangebound during March 30-April 3, as firm raw material prices lent cost support to domestic steel prices, while the slower-than-expected recovery in downstream steel demand hindered price increases.

Rebar: As of April 3, the national price of HRB400E 20mm dia rebar under Mysteel's assessment came in at Yuan 3,329/tonne ($484/t) including the 13% VAT, edging up Yuan 5/t from one week earlier. Transactions of construction steel in the physical market improved slightly, with the daily trading volume of rebar,