China steel prices hit three-yr low

BEIJING, May 27 (Reuters): Steel rebar prices in China hit their lowest in three years this week, underscoring flagging growth in the world's second-largest economy, particularly in its weak property sector.

The spot price of HRB400 20mm steel rebar -- used to reinforce concrete for buildings and infrastructure -- fell to 3,510 yuan ($507.80) per tonne in Shanghai on Thursday, data from consultancy Mysteel showed.

That's the lowest since April 2020, when the start of the COVID-19 pandemic in China had curbed most industrial activity.