WEEKLY SUMMARY: China's major steel prices remain weak after holiday

Chinese prices of major steel products, including rebar and hot-rolled coil (HRC), remained weak overall over October 8-10 after the country's National Day holiday, mainly due to the accumulation in steel inventories and lackluster demand from end users.

Rebar: On October 10, a makeup working day in China due to the National Day holiday ended on October 7, Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,322/tonne ($496/t) including the 13% VAT, dipping by Yuan 8/t from September 30, the last working day before