Export prices for wire rod and rebar from the Commonwealth of Independent States (CIS) were broadly unmoved in the week to Monday June 7, with trading activity to key destinations remaining weak, sources told Fastmarkets.
Chinese steel sheet, like other steel products, has experienced a significant price drop in recent days. This is due to China's dictatorial pricing policies. It remains to be seen where the steel market will go with China's policies.
Iran's steel market is in a state of disarray due to rising domestic steel prices under the pretext of rising prices in the iron ore and flat steel sectors. Continuation of this path will increase prices in the shadow of the recession. But the falling dollar has prevented a complete reversal of the market. It remains to be seen how long prices will remain on the ceiling.