WEEKLY SUMMARY: Rebar, HRC prices up on rising costs

China’s domestic steel prices including the physical and futures markets increased in the first week of January despite the continuing gains in the finished steel stocks, mainly as the remaining high raw materials prices had been supportive, Mysteel Global noted.

Stocks of five major finished steel products at the commercial warehouses of China’s 132 cities gained for the second week over January 1-7, up another 836,100 tonnes or 6.4% on week to nearly 14 million tonnes, Mysteel’s survey showed. The most traded May iron ore contract on the Dalian Commodity