Information transferred from the website MARKET REALIST.
Title: Why Stable Chinese Steel Prices Could Support US Steel Pricing
By Mark O’Hara
Dec 1, 2017
Chinese steel prices
However, Chinese steel prices have been strong this year. According to Antaike, average hot-rolled coil prices in China are currently in the ballpark of 4,200 yuan (~$636) per metric ton. Prices have risen more than 10.0% this year. Notably, Chinese steel prices have risen almost 40.0% from their April lows. Looking at November, we see that Chinese steel prices have been trending sideways.
According to China Daily, citing Gu Jianguo, deputy head of CISA (the China Iron and Steel Association), “China’s steel prices will continue to firm up in 2018 as production and supply are becoming more balanced.” He added, “Prices have seen a reasonable rebound, while it is quite normal to see tight supply and price fluctuations during certain periods.”