Chinese domestic billet prices were 3,760 yuan ($575) per tonne at 3pm on September 1, 20 yuan per tonne lower than the previous Friday.
Expectations in the market about future price movements were divided.
Some participants forecast a price rise because of the consequences of a fire at one of the country’s long steel rolling mills
, Benxi Iron & Steel, and air-pollution inspections in northern China.
But other sources were bearish...