Tag: China Weekly: Steel prices show downtrend with fall in SHFE futures

The Chinese steel market faced a steep decline, closely following the downtrend in Shanghai Futures Exchange (SHFE) prices. Domestic steel products, such as billets, hot-rolled coils (HRCs), and rebars, experienced w-o-w price drops. In addition, raw material costs for iron ore and coking coal also fell. 1. Iron ore spot prices fall sharply: The benchmark…