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WEEKLY SUMMARY: China’s steel prices rangebound

ABSTRACT

Over September 13-17, China’s prices of rebar and hot-rolled coil (HRC), the two popular carbon steel finished steel products, showed signs of diverging in the spot market, though both their futures prices reversed from several weeks of strengthening, indicating the struggling of market sentiment amid probably lower output while also softening in demand in the near or longer term, Mysteel Global noted.
Rebar: As of September 17, China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment strengthened to its four-month high of Yuan 5,606/tonne ($867/t) and including the 13% VAT, or up for the fourth consecutive week by another Yuan 81/t. Last week, spot trading volume of construction steel including rebar,

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