Rebar prices on a roller coaster, with scrap following

摘要

Chinese steel prices have declined substantially since June to post new multi-year lows in early July (seechart). Greater losses forced steel producers to scale back output and put facilities on hold for maintenance.These output cuts lead to a rally in rebar prices from mid-July: an increase of over RMB 200/t m/m, thoughthe softening macro economy limited the gains.