11
Nov
07:28
Chinese long steel prices keep dropping
Chinese construction steel ex-factory prices have continued to fall sharply in mid-November, despite the spot market rebounding on Thursday (see separate article).
Shagang, Zenith and Yonggang all agreed to cut CNY 400-500/tonne ($62-78/t) from their long product offers in the second ten days of November, Kallanish notes. Meanwhile, the steel mills will provide CNY 400-550/t subsidies to sales agents in order to make up their losses over the past ten days.
I…
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Anonymous
Very good overview of the weekly steel market.
Anonymous