Tag: Chinese steel inventories

Rising inventories weigh on local steel prices Softer raw material trends pressure market Chinese billet prices declined by RMB 10/t ($1/t) to RMB 3,050/t ($448/t) on 21 May, while rebar futures edged lower by RMB 2/t (less than one) to RMB 3,149/t ($463/t). Market sentiment remained under pressure amid expectations of higher steel output, sluggish…