Steel Retreats as Seasonal Slowdown Looms
AI Summary
Steel rebar futures have seen a decline as seasonal slowdown in demand approaches. Prices are expected to face pressure due to weaker supply-demand dynamics, impacting market sentiment.
Steel rebar futures fell toward CNY 3,200 per ton, pulling back from nine-month highs as expectations of a seasonal slowdown in demand and softer downstream consumption weighed on the market. Mysteel’s latest monthly industry report indicated that construction steel prices in China are likely to face pressure this month due to weakening supply-demand fundamentals. The ...