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Chinese Steel Price Lowest Since Early 2002

Steel

The Chinese domestic price for hot rolled band (HRB) dropped by $4/t from 26 August to its lowest level since March 2002 by 16 September at $265/t, down $171/t year-on-year, according to the latest SteelBenchmarker from World Steel Dynamics. There were also falls of $8/t and $12/t in the US and Western European HRB prices over the same three week period, to $497/t and $416/t, respectively.