Kallanish Steel Weekly: China returns from holiday but no big splash

Kallanish Steel Weekly: China returns from holiday but no big splash (Oct. 18, 2017)

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The global steel community saw activity improve again last week as China returned after its Golden Week holiday. The lull seen in the week before last proved once again that the world’s largest steel producer and user continues to define market sentiment, activity and much else for that matter. That said, the European and US markets both remained quiet - and some would say wary – of what China’s re-entry would bring. Seaborne iron ore prices dipped slightly over the seven days as the potential for oversupply of the main raw material under impending Chinese steelmaking restrictions reared its head once again. Scrap market sentiment varied, but only slightly as everyone, including Turkish importers, appeared to wait for the Chinese market to settle.

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Kallanish Steel Weekly: China returns from holiday but no big splash (Oct. 18, 2017)

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