Posted by Sslee > 2022-11-09 08:31 | Report Abuse

Steel rebar futures rose past the CNY 3,550 mark, extending the rebound from the 2-1/2-year low of CNY 3,464 hit on October 31st as Chinese production curbs for the winter due to pollution controls are set to lower supply. Still, recession concerns continue to pressure demand for steel and other base metals, limiting the rebound in prices. Fresh trade data showed that the world’s top consumer imported 4.7% less steel-making inputs in October on a monthly basis. On top of that, investment in the country’s giant property sector fell more than 8% year-on-year in the first 9 months of 2022, signaling a lower use of steel. Last month, the World Steel Association revised its forecast of global demand to contract by 2.3% this year, compared to earlier forecasts of a 0.4% rise. Meanwhile, Chinese authorities emphasized that the country would stick to its zero-Covid policy, refuting rumors that believed the economy would reopen.

Posted by emsvsi > 2022-11-09 09:46 | Report Abuse

DEAR KOON,
WHAT PRICE ARE YOU SELLING YOUR AYS