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), remained rangebound during the week of August 10-14, mainly due to the dual impact of poor end-user demand and firmer cost support from rising raw material prices.

Rebar: As of August 14, Mysteel assessed China's national price of HRB400E 20mm dia rebar at Yuan 3,223/tonne ($478/t) including the 13% VAT, down by a tiny Yuan 1/t from one week ago. Construction steel sales in the physical market remained dull last week as end-user demand was hit hard by