Chinese demand supports further rise in Iranian semi-finished steel prices

Iranian export prices for steel billet and slab went through several rounds of increases over the week to Wednesday May 12, supported by demand from China.

China's domestic rebar prices surged on May 10 and set a new high after the October futures contract on the Shanghai Futures Exchange hit the daily limit within 10 minutes of the start of trading.
Fastmarkets' assessment of the price for steel reinforcing bar (rebar), domestic, ex-whs Eastern China, was 6,000-6,030 yuan ($934-938) per tonne on Wednesday, up by 820-830 yuan per tonne week on week.

China's hot-rolled coil prices surged on May 10 after HRC futures rose to their daily limit amid fears over inflation. Prices...

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