Global steel demand weak, low-price steel prevails
Oct 18, 2019 08:30
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Like in many markets globally at the moment, steel demand in China has not been as strong as generally expected, with the result that prices are weakening. Over September 28-October 12, Mysteel’s SS400 4.75mm hot-rolled coil was traded at $463/t FOB Bayuquan port in Northeast China’s Liaoning province, down $5/t from September 21-27, as Mysteel Global reported.
“Some mills slashed their FOB prices for HRC to $450/t after the National Day holiday (over October 1-7), but still no buyers have shown interest,” a Shanghai-based senior market watcher admitted. “After all, hot coils are available in the international market from Qatar priced at $450/t CFR Southeast Asia, which