11
Jun
06:13
Chinese longs prices slump in mid-June
Major Chinese long steelmakers Shagang, Zenith and Yonggang are no longer resisting the falling market. They have announced a sharp drop of CNY 180/tonne ($26/t) for rebar offers and CNY 130/t for high-speed wire rod and rebar in coil offers in mid-June, Kallanish notes.
The steelmakers' rebar prices now match at CNY 4,070/t (see table below). During the same period, only Zenith cut 10% of rebar market supply and Yong…
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Anonymous
Very good overview of the weekly steel market.
Anonymous