The weakening of the markets for flat and long steel in Asia that was created by the sharp drop in futures prices in China this week has had a negative effect on Iranian exporters, which sell most of their semi-finished steel volumes to the region, Fastmarkets heard on Wednesday November 10.
Fastmarkets' daily price assessment for steel hot-rolled coil, domestic, ex-whs Eastern China, was 4,650-4,710 yuan ($728-737) per tonne on November 10, down by 240-250 yuan per tonne from November 9, and from 5,050-5,100 yuan per tonne on November 3.Meanwhile, the price assessment for steel reinforcing bar (rebar), domestic, ex-whs Eastern China, was 4,640-4,670 yuan per tonne on Wednesday, down by 260-270 yuan per tonne since Tuesday....