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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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April 2017 | Steel Forecaster


Rebar prices begin to retreat as demand-side fundamentals wane: International Long Product Market Analysis


So far this year, Chinese rebar and, to a lesser extent, wire rod producers have limited the impact of seasonally weak demand by slashing production more than usual.

Chinese rebar prices declined further by RMB 141/t, to RMB 3347/t this week, taking Metal Bulletin’s assessments from an equivalent of $506/t down to $487/t ex-warehouse (incl. sales taxes). In fact, Eastern China’s steel major Shagang has made big cuts to the list prices for its long steel products for late April — rebar at RMB 3,350/t and wire rod at RMB 3,410/t over the April 21-30 period, down 250 yuan ($36) and 180 yuan ($26) per tonne, respectively, from its mid-April price levels. The drop in domestic prices indicates the comparatively weak nature of Chinese demand, which...

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