08
Jul
15:02
Chinese steel buying dries up after price rally
Chinese spot steel prices have increased over the last week but showed signs of running out of steam on Friday. Traders reported buying slowed to a standstill at the end of the week and real demand remains fundamentally soft, Kallanish notes.
Spot steel prices in Shanghai were trading up around CNY 40/tonne over the week for both rebar and hot rolled coil. 20mm HRB400 rebar was trading at CNY 2,100-2,150/t ($314-322/t), while 5.5x1,500mm Q235B HRC was at CNY 2,5…
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Anonymous
Very good overview of the weekly steel market.
Anonymous