WEEKLY SUMMARY: China's major steel prices fall, sentiment softens

China's prices of major steel products, including rebar, square billet and hot-rolled coil (HRC), declined during the week of July 20-24, as market sentiment softened again amid the persistent lackluster demand from end-users and rising steel inventories at both steel mills and traders.

Rebar: As of July 24, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment came in at Yuan 3,275/tonne ($484/t) including the 13% VAT, down by Yuan 21/t from one week earlier. Rebar prices in the derivatives market also lost ground last week, with the most-traded contract on the