11
Oct
11:57
Chinese long steel offers shrink after holiday
The weak performance of China's steel market after the National Day holiday was contrary to the expectations of steel mills, which have now cut prices significantly to follow the market trend.
Of the major steel mills in eastern China, Zenith and Yonggang each cut long steel offers by CNY 150/t ($20/t) and CNY 200-250/t, Kallanish notes. In addition, the mills provided CNY 190-260/t subsidies to sales agents to make up for previous losses. Shagang however held…
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Anonymous
Very good overview of the weekly steel market.
Anonymous