empty
 
 

26.05.202607:16:04UTC+00Steel Hits Near 1-Month Low

Steel rebar futures fell below CNY 3,160 per ton, trading near their lowest level in almost a month as sluggish demand continued to pressure prices. Profit margins for Chinese steel producers remain squeezed amid ongoing weakness in the country’s infrastructure and property construction sectors. External demand has also softened, with foreign buyers showing limited interest in Chinese steel at current elevated price levels.

China’s crude steel output declined 2.8% year-on-year to 86.63 million tons in April, the lowest April figure since 2018. At the same time, the latest monthly industry report from Mysteel suggests that long steel production is set to rise, as improved profitability prompts domestic mills to ramp up output. However, the anticipated increase in supply may add further downward pressure on prices later this month if end-user demand continues to weaken.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


现在无法通话?
提出您的问题,用 在线帮助.
Widget callback