WEEKLY SUMMARY: China's major steel prices diverge

China's prices of major steel products, including rebar, square billet and hot-rolled coil (HRC), diverged during the week of September 14-20, with those of rebar and HRC remaining weak overall, while that of square billet kept stable.

Rebar: As of September 20, a makeup working day for China's National Day holiday over October 1-7, China's national price of HRB400E 20mm dia rebar was assessed by Mysteel at Yuan 3,311/tonne ($494/t) including the 13% VAT, falling by Yuan 17/t compared with September 11. On the Shanghai Futures Exchange, the