WEEKLY SUMMARY: China's major steel prices lose ground

China's prices of major steel products, including rebar, square billet and hot-rolled coil (HRC), lost ground during the week of September 7-11, as end-user demand had yet to show significant recovery while the cost-side support showed signs of weakening, Mysteel Global learned.

Rebar: On September 11, Mysteel assessed China's national price of HRB400E 20mm dia rebar at Yuan 3,328/tonne ($496/t) including the 13% VAT, down by Yuan 10/t from one week earlier. Rebar prices in the derivatives market also lost ground last week, with the most-traded contract on the Shanghai Futures Exchange for