spot steel tags were mostly unchanged Tuesday as market players
stood on the sidelines due to a cloudy outlook.
coil ranging from 4.5 to 12 millimeters was at 3,910 to 3,930
yuan ($622 to $626) per tonne in Shanghai, unchanged from
"Sellers are not willing to
lower offers again, of course, but it is also hard to boost
prices to a level above 4,000 yuan per tonne," a trader in
Shanghai told AMM sister publication Steel
Some said they even halted
sales, fearing losses.
A 50-yuan-per-tonne price cut by Jiuquan Iron & Steel
(Group) Co. Ltd. also curtailed any bullishness on the spot
market, a Beijing trader said.
A version of this article was first
published by AMM sister publication Steel