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
Export billet prices from the Commonwealth of Independent States (CIS) region declined at the beginning of the week, pressured by low prices and poor demand.
China’s domestic hot-rolled coil prices extended their gains on Wednesday August 11 after futures prices rose for a second straight day on higher market expectations of an output drop and demand recovery from low summer trading.
The iron ore market is going through inflammatory days. Despite the cross-sectional growth in iron ore prices, the outlook for this product is weak. Demand for iron ore is expected to weaken by February 2022 due to further declines in steel production and tighter emissions controls.
Due to the fact that a specific trend for prices in the Iranian market in the short term is not clear, market demand has decreased. The prevalence of Delta Corona in Iran has led to a decrease in steel prices in the Iranian market. International standards have also entered into this price reduction.