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WEEKLY SUMMARY: China steel prices up, stocks lower

China’s steel prices strengthened over May 1-8, as demand had remained stable despite a mild disruption during the Labour Day holiday over May 1-5, and finished steel stocks continued declining as a result.
Rebar: China’s national price of HRB 400 20mm dia rebar rose Yuan 61/tonne ($8.6/t) from April 30 to Yuan 3,680/t including the 13% VAT as of May 8, and rebar stocks continued to decline among the stable consumption, though the pace was not as fast because of the holiday, according

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