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 iron ore market in all countries of the world has been waiting for the movements of the Chinese market for some time. Under these circumstances, the Chinese iron ore market has not reached a definite decision on the outcome of the price. China's iron ore futures are falling. But this price drop was not observed in this week's short-term trading.
The crude iron market is currently experiencing slight fluctuations in tonnage prices due to the general recession in the steel market. Stable prices in this area due to the trading behavior of the Russians. Russia is the largest producer of crude iron. It does not intend to sell cheaply in this area.
The international iron ore market is experiencing stagnant, bargain-free days due to environmental constraints, the Chinese government's entry into production and pricing, and floods and sandstorms in China. Steelmakers prefer to use low-grade iron ore, which puts pressure on the iron concentrate market. For this reason, price drops in this area are also possible.
Seaborne coking coal prices continued to be supported by regular procurement demand in the cfr market on Monday July 26, while the fob market was largely stable on new buying interest for August-loaded cargoes.