China’s domestic rebar prices fell rapidly on Wednesday May 19 on softer demand as a result of rain.
The drop in demand for imported billet in China in recent days has resulted in traders reducing the bid prices placed in new tenders with Iranian mills, Fastmarkets learned on May 19.
Prices for steel scrap imported into China remained steady on Tuesday May 18, with only limited spot market activity due to low buying interest.
Steel billet and rebar prices increased sharply in the United Arab Emirates during the week ending Tuesday May 18 due to very good demand after the Eid al-Fitr holiday ending earlier in the week, sources told Fastmarkets.
In a situation where the global steel markets are enjoying huge profits and the situation in all commodity transactions is in favor of the producer. China has decided to pay attention to the indicators of sustainable development. Therefore, the country has decided to reduce steel production. This seems like a sensible decision given the country's economic backing last year.
The price of iron ore in the international market has dropped by about 10% in terms of sales due to the reduction of tensions between China and Australia. Official news agencies such as Steel Price, the Financial Times and the SMM Institute have stated in their analysis that despite the drop in prices in the iron ore sector, the losses will not be high due to the heavy wave of demand in the market and markets should be carefully monitored from Monday. Rated more.
Iran's central steel exports have come to a standstill by some analysts. This impasse is predicted in a situation where all global steel markets are in a very good position. Iran's export focus should be on China. In this case, there will be no threat to Iranian steel.
Many factors have been involved in the analysis of copper trends in global markets to make copper prices very volatile in the current situation. Lack of primary sources of copper extraction is one of the most important factors. Along with this issue, we see political and geographical factors limiting copper production in the world. With this trend, we will see the replacement of copper instead of oil in commodity markets.
The growth of domestic steel prices in the current situation has entered a new phase. The ribbed rebar is a showcase of rising prices in the Iranian market. Reach one year interval.
China’s crude steel, hot metal and finished steel production continued to experience year-on-year growth in April, according to data released by the country’s National Bureau of Statistics (NBS) on Monday May 17.