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10 Jun

Global longs market yet to bottom, says Irepas

The global long steel market is yet to reach bottom, with supply still outpacing demand. The market is waiting for action from Chinese authorities to stem exports, as iron ore prices drop below $110/tonne, but nothing has materialised so far, says the International Rebar Exporters and Producers Association (Irepas). Turkish mills are waiting for EU demand to improve. Otherwise, along with continuing Chinese exports, Turkish mills will be forced to reduce productio…
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