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CHINA STEEL WRAP: Prices mostly down as demand still weak

February 13, 2014 - 09:53 GMT Location: Shanghai

KEYWORDS: Shanghai Futures Exchange , Shanghai Steel Exchange Center , Dazong , Shanghai , Beijing , China Iron & Steel Assn

China’s spot steel prices mostly fell on Thursday February 13 due to the absence of end users in the market.

In Beijing, grade III rebar was traded at 3,200-3,220 yuan ($524-528) per tonne, unchanged since Tuesday. But in Shanghai, the same product was traded 20-30 yuan ($3-5) per tonne lower, at 3,270-3,300 yuan ($536-541) per tonne. All prices are inclusive of VAT. "I didn’t achieve my sales target today. Many end-users are still not back in the market yet," a Shanghai-based trader said. "But there is always some buying on Friday to prepare for the weekend, and with current prices already...

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