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WEEKLY SUMMARY: China's steel prices fall, sales poor

ABSTRACT

Over October 18-22, China's domestic steel prices including rebar and hot-rolled coil (HRC) trended downward in both spot and futures markets, largely due to the subdued market sentiment in the near term, Mysteel Global noted.
Rebar: As of October 22, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment slumped to a one-month low of Yuan 5,586/tonne ($875/t) including the 13% VAT, or down for the second week by another Yuan 295/t, mainly due to the recent lacklustre steel demand.Over October 18-22, spot

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