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Chinese Hot Rolled Band Price Rebounds
After softening in the latter part of September, the Chinese domestic price for hot rolled band (HRB) rose by $16/t to $533/t in the two weeks to 11 October, according to the latest SteelBenchmarker from World Steel Dynamics. With the Chinese rebar price more than $180/t above the year-ago level, mill margins in China remain healthy. By contrast, the US and Western European HRB prices fell by $18/t and $6/t over the same period, to $672/t and $635/t, respectively. However, steel prices in both regions remain strong, a positive indicator for dry bulk trade.