CHINA REBAR: Sentiment bearish despite higher mill offers pushing up prices China import billet prices largely flat but sellers bullish Iron ore market on Chinese market holidays Alliance of Russian steelmakers to protect environment China Development and Reform Commission efforts to supply steel power
The sponge iron market in recent days in Europe has been plagued by price inflammation. In Italy, due to favorable conditions and the possibility of major purchases, the import conditions of this product are favorable at current rates. Continuing this trend could make things more difficult for European artisans.
Offers from billet producers in the Commonwealth of Independent States were stable in the second half of the week despite reports of limited demand.
Demand for SAE1006 hot-rolled coil in the key import market of Vietnam remained extremely weak in the week to Friday June 18 due to the surge in Covid-19 infections, especially in Ho Chi Minh City, market sources said.
China, meanwhile, is working hard to reduce its dependence on imported goods. It seems that China is looking to shrink its commodity policy body. This will bring short-term risk to investors. But the government has planned to liberalize government shares for this issue.