Cutback in output will increase steel prices in China
Tags: China , Far East , steelmaking , production , consumption | similar articles »
Data collected in thirty different provinces of China has revealed that steel product prices are still in an upward trend. The average steel price in China stands at RMB 4,834/mt, up 2.92 percent week on week.
Analysts suggest that cutback in production in order to achieve energy saving and emission reduction targets have decreased the steel stocks in the market. In September, prices are expected to increase further in line with the rising steel market demand.
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