INFOGRAPH: China construction steel prices fall on fundamentals

China's prices of construction steel have been losing ground after the country's National Day holiday (over October 1-7), largely as demand lacked major upward momentum while cost support from the raw material side waned. Moreover, market sentiment has been subdued due to the resurgence of COVID-19 cases across the country, market sources shared.

As of October 17, China's national price of HRB400E 20mm dia rebar, a weathervane of Chinese steel-market dynamics, logged a five-day decline of Yuan 101/tonne ($14/t) in total since October 11 to near a one-month low of Yuan 4,100/t including the 13% VAT, according to Mysteel's assessment. The price