Steel prices under pressure; fall eyed

Oct 11, 2011 | 04:51 PM |

Tags  China, steel market, under pressure

SHANGHAI, China — Chinese steel markets are under pressure to fall amid poor market fundamentals.

"The European debt problem is the focus of China’s commodities market," a Shanghai-based analyst covering rebar said.

Shanghai rebar futures eked out a tiny gain Tuesday, with the benchmark January contract up 0.1 percent to 4,322 yuan ($679) per tonne.

But "the fundamentals are not good for rebar, as winter is coming, and I think there is still room for rebar to fall further," the analyst added.....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results