China’s steel prices decline as inventories at major mills hit two-year high amid Covid-19 lockdowns, slowing economy

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Steel prices in China have been falling as sluggish demand amid the slowing economy drives inventories at major mills to the highest level in two years.

The most-traded steel rebar futures contract on the Shanghai Futures Exchange, for October delivery, hit 4,427 yuan per tonne on Thursday, approaching the lowest level this year, sliding about 13% from the recent high seen in April. The most active October hot-rolled coil futures contract hit . . .

 

 

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