Major Chinese steel longs producers have cut their mid-January steel prices by CNY 30-400/tonne ($4.61-61.48/t), continuing the downward trend from the beginning of the year. Spot trading is also quite weak with the approach of the Chinese New Year and prices are closing at levels that could spark restocking, Kallanish notes.
In Shanghai on Friday afternoon 20mm HRB400 rebar was trading at CNY 3,730-3,770/t, down CNY 255/t from a week earlier. On the S…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.