Mills reduced asking prices from $610-620 per tonne to $600-610 per tonne fob week on week after the Chinese market, which was expected to support suppliers, started to weaken.
Chinese demand for steel billet imports has fallen recently amid mounting concerns over China’s property market
and the potential for power shortages across the country.
China started introducing power-consumption limits in some provinces in July 2021 due to power shortages. The curbs have...