Participants in the East Asian flats market anticipate another fall, of $50/t, in the price of hot rolled coil/sheet in the coming weeks, given the negative dynamics acting upon iron ore and slab. “The downward pressure on offers is coming from the slide in the iron ore prices in recent weeks,” an East Asian trader told CRU Steel News. The raw material is this week selling below $90/t, a three-year low below $90/t. Not so long ago it was comfortable above $120/t.
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