Major Chinese construction steel producers have cut their early April steel long product offers by around CNY 200/tonne ($32/t), maintaining the down trend from March. Mill ex-works offers had been markedly higher than spot prices, resulting in mills having to compensate traders in recent period, Kallanish notes.
Spot long product prices have begun to rebound but mills had initially expected prices to increase much sooner and so their offers were out of step wit…
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