China’s Oct construction steel prices to rise
China’s prices of construction steel may continue to rally this month as demand appears robust, Mysteel predicts in its monthly market outlook report. Autumn is generally a peak season for steel consumption in China.
China’s rebar price trends down, sales rebound
China’s national price of HRB400E 20mm dia rebar under Mysteel’s assessment had decreased for the second working day by a larger Yuan 33/tonne ($4.6/t) to Yuan 4,150/t including the 13% VAT on October 12, while spot sales of construction steel rebounded.
Hebei’s steel PMI reverses down in Sept
The Purchasing Managers’ Index (PMI) for the steel industry in North China’s Hebei province, the country’s top steel production base, retreated to 50.7 in September after the prior month’s increase, losing 3.5 basis points on month, according to the latest release by the Hebei Metallurgical Industry Association on its website.
China’s stainless output jumps 12% MoM in Sept
After sliding for the previous three months, crude stainless steel output among China’s stainless producers reversed up in September, surging by 12.1% from August to 2.53 million tonnes, according to Mysteel’s latest monthly survey among the country’s 33 domestic stainless makers.
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While steel is used for construction work the copper is used for electrical appliances, both of the metals have an increasing demand all over the world.