12
Nov
02:40
Chinese longs offers turn downwards
After strengthening steadily for over a month, major long steel producers cut offer prices in mid-November. This trend is in line with the spot market. Last Friday, Shanghai rebar prices fell by CNY 75/tonne ($10.8/t) on-week, Kallanish notes.
Shagang kept rebar offer prices unchanged, indicating that it saw some support from lower inventories. However, it lowered its offers for rebar in coil and high-speed wire rod by CNY 80/t…
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Anonymous
Very good overview of the weekly steel market.
Anonymous