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
Commodity exchange approval was presented to the market with the aim of changing the supply and how to determine the base price of steel. There are challenges along the way. It seems that rollers should be exempted from this measure due to the strong need for support. It seems that the stock market giants have felt the need to pull back from current prices.
The Commonwealth of Independent States (CIS) export billet market turned quiet at the end of the week to June 25 following news of the Russian government’s plan to impose temporary export duties on ferrous and non-ferrous metals sold outside the Eurasian Economic Union (EAEU) from August 1, Fastmarkets heard.
Foreign exchange prices have risen in the past few days due to internal and external factors. The need for a single dollar exchange rate in the current market is strongly felt
Demand for SAE1006 hot-rolled coil in the Vietnam import market improved slightly during the week to Friday June 25 amid reviving interest from buyers, sellers in India told Fastmarkets.
Turkish steel mills ended the working week with a single deep-sea cargo amid limited rebar demand, especially in the export markets, sources told Fastmarkets on Friday June 25.