China: high buying activity pushes longs prices up in domestic market

摘要

In April, long product demand from local customers did not disappoint Chinese suppliers. So, they respondedimmediately to the improved market situation and started pushing prices up. In particular, Shagang Group, NanjingSteel and Rizhao Steel, citing higher iron ore costs, announced an increase in prices for longs (up $8/t or RMB 50/tfrom two weeks ago). Prices for structurals from Rizhao Steel and Laiwu Steel moved up by $9-12/t (RMB 60-80/t)over the same period, while those for rebar and wire rod from Yonggang Group grew by $8-11/t (RMB 50-70/t).