China's steel market warning signal prices may weaken
Beijing 3 Bloomberg reported on Monday received a report on the trend of steel prices in the study of steel, steel market in China, the first signs of weakness. The bank said, there is a premium for the existence of a hot rolled steel coil into a discount, which is the initial warning signs of steel price weakness.
Barclay said, compared with the rebar, hot-rolled coil more export-oriented, the current difficulties encountered in overseas market sales. Therefore, the hot rolled coil in the domestic sales, the surge in domestic supply to promote hot rolled coil discount.
We expect the next few weeks, the price of steel will be weak, following the decline in hot-rolled coil, while not optimistic about the future trend of iron ore.
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