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 export market for steel hot-rolled coil from the Commonwealth of Independent States went down during the week ended Monday September 6 on low demand because buyers were cautious about possible further price drops.
Export rebar and wire rod prices from the Commonwealth of Independent States (CIS) region continued to decrease in the week to Monday September 6, pressured by competition with Turkish mills, sources told Fastmarkets.
Domestic hot-rolled coil prices in China extended their gains on Monday September 6, with the latest data showing a further drop in supply despite the advent of the September-October peak demand season.
Steel billet buyers in China have continued to make import purchases in recent days amid expectations that further domestic production cuts will be imposed at the start of next year, sources told Fastmarkets on Tuesday September 7.