CIS STEEL BILLET: Mood switches to positive as China returns from holiday to price upticks

CIS billet exporters saw some signs of support from China as the country’s long-steel market opened stronger after the Mid-Autumn Festival ended on September 21.

China’s domestic rebar prices moved up sharply on Wednesday September 22 on market participants’ expectations of supply cuts in the remaining months of 2021.

Fastmarkets’ daily price assessment for steel reinforcing bar (rebar) domestic, ex-whs Eastern China was 5,800-5,840 yuan ($897-903) per tonne on Wednesday September 22, up by 220 yuan per tonne from Friday September 17.
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Published

Vlada Novokreshchenova

September 22, 2021

15:26 GMT

Dnipro