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Kallanish Steel Weekly: Raw material prices firm despite Chinese restrictions

Kallanish Steel Weekly: Raw material prices firm despite Chinese restrictions (Nov. 21, 2017)

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Last week, all eyes in the global steel markets were pointed at China, where the announced measures to restrict output during the winter season have begun to be implemented. The local authorities have decided to put restrictions on output by certain mills in order to control pollution levels during the cold months.

Market observers have been having some difficulty predicting whether the restrictions would bring a recovery in finished steel prices or mainly hit iron ore prices due to possible lower demand. During the first week of these restrictions having taken effect, the market has responded with iron ore prices stabilising at a level not seen since the 6 November. Finished steel products’ prices in China meanwhile have slightly increased.

 

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