Steel rental in China continues to get cheaper

A weak demand for metal supply in China leads to a further decrease in prices, continuing the tendency of the last three weeks.

It was difficult for Chinese manufacturers that the sale of silverist steel at a previously declared price of $ 645 per ton FOB was the sale. The new price proposed by Chinese metallurgists with delivery at the beginning of June is $ 630 per ton FOB. “Since foreign customers are in no hurry to buy material, we are forced to adjust prices to attract them,” said Tianjin Steel representative for sales issues.

The prices for reinforcement in Shanghai fell to 4040-4200 yuan ($ 640-666) per ton of VAT, which is 10 yuan lower than at the beginning of the week, and 30 yuan less than a week ago. The price of hot-rolled steel amounted to 4260-4270 yuan ($ 675-675) per ton, that is, 20 yuan less than at the beginning of the week, and 40 yuan less in weekly counting.

In Beijing reinforcement is sold 10 yuan cheaper than at the beginning of the week, 4210-4280 yuan ($ 665-676) for a ton. Steel is sold 4280-4300 Yuan ($ 676-679) per ton, 20 yuan cheaper than a week ago.