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China’s ferrous market gets ready for Labour Day holiday


China’s ferrous market has almost been back to the normalcy by now, as is evident before the Labour Day holiday over May 1-5 when participants in the steel value chain have been into the pre-holiday inventory rebuild mode, though market pundits notice that the persistently high steel and iron ore prices have made it less likely for the restocking in large quantities both because of cash flow constraints and pricing risks.
Labour Day holiday, similar to the Chinese New Year (CNY) holiday, is usually an occasion for the Chinese steel mills and downstream industries to procure some raw materials to tide them over the holiday for normal operations, in case the normal supplies or logistics were disrupted by the celebration when traders tend to be


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