Chinese Steel Price Continues to Fall
The Chinese domestic price for hot rolled band (HRB) dropped $14/t over the period 10-24 June to $307/t, according to the latest SteelBenchmarker from World Steel Dynamics. It is now down $144/t year-on-year. This contributed to a fall of $9/t in the world export price for HRB to $374/t over the same period. Meanwhile, the US and Western European domestic prices for HRB both fell by $1/t to $513/t and $428/t.