Domestic prices rise for seven weeks
Post Date: 09 Jun 2009 Viewed: 813
Domestic steel prices continued to rise entering June, marking a 7th week of the upward trend in a row. The prices of construction steel saw the biggest rise last week; medium and heavy pate, large and medium sections rose slightly; and hot rolled sheet remained almost unchanged. The price of 20mm rebar stood at 3,660 yuan per ton on Tuesday, up 48 yuan per ton from late May; 6.5mm high-speed wire rod was 3,624 yuan per ton, up 45 yuan per ton; 3.0mm hot rolled sheet was 3,659 yuan per ton, up 21 yuan per ton; and 1.0mm cold rolled coil 4,432 yuan per ton, up 47 yuan per ton. With more mills restarting their facilities, experts expressed concerns over the future market where no substantial improvements in the domestic hot rolled inventories are expected for the time being.