01
Jul
15:00
Chinese early-July longs offers lose support
The Chinese long products market has been weaker in the summer, and the drop in demand has caused steel mills to lower their offer prices, Kallanish notes.
Shagang and Zenith, major steelmakers in eastern China, lost confidence in long steel prices in the first ten days of July. Zenith lowered its prices for all products by CNY 100/tonne ($15.47/t), while Shagang reduced its rebar in coil price by the same amount, but kept prices of the remaining two products unch…
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Anonymous
Very good overview of the weekly steel market.
Anonymous