Tag: China steel prices
-
China: Steel prices soar 50% y-o-y, but demand is down
On 22 Sept’21, the SHFE rebar futures Jan’21 contract closed as high as RMB 5,656/tonne (t) ($875/t) , a y-o-y increase of more than 50%. What changes have the current high steel prices brought to the market? How have downstream companies responded? An official at a steel trading company in Taicang, Jiangsu, said that in…