The price of reinforcement in China has reached a new minimum

The fall in the reinforcement prices in China today reached last year's minimum in 3520 yuan per ton or 570 US dollars. Such proposals were given today by the Shanghai futures exchange for the supply of reinforcement in October. This is the lowest price level from December 3, 2012.

The production of steel in China continues inexorable growth and in April amounted to 65 million 650 thousand tons, which is 6.8 percent more than in April 2012, today the National Bureau of China statistics reports. In the first four months of this year, the production of steel in the country increased by 8.4 percent - to 258 million 200 thousand tons.

"April was the second month that set the record in the production of steel, which causes concern, since it is obvious that China’s metallurgical plants are not going to cut production," says the analyst at Ruida Futures Co. Tsai Yuhau.

The average spare price for the reinforcement is kept with last strength at yesterday's mark of 3579 yuan per ton and obviously soon followed after the futures.

Meanwhile, the general mood of the market remains raised in anticipation of the beginning of the growth of demand for metal rolling promised by analysts.


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