Tag: #chinaweekly
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China weekly: Steel prices under pressure on weak demand, high inventories
Pre-holiday restocking offers limited support Rising inventories highlight supply-demand imbalance China’s domestic steel market remained subdued during the week ended 24 September, with weak downstream demand and cautious buying continuing to weigh on prices. Rebar prices declined, while HRC prices remained stable as lower production and falling inventories provided some support. However, elevated mill inventories,…