04
May
07:13
Chinese long steel offers extend declines
Chinese long steel offers saw further declines in the first ten days of May, Kallanish notes.
Major long steel producers in eastern China, Shagang, Zenith, and Yonggang all announced price cuts for rebar, wire rod and rebar in coils in early-May. Shagang reduced long product offers by CNY 100-200/t($14.5-29/t), while Zenith and Yonggang both cut CNY 150/t from long product prices. All steelmakers meanwhile provided CNY 250-280/t subsidies to sales agents, public i…
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Anonymous
Very good overview of the weekly steel market.
Anonymous