Reuters logo
China steel prices still face headwinds -industry body
November 14, 2012 / 2:32 AM / in 5 years

China steel prices still face headwinds -industry body

SHANGHAI, Nov 14 (Reuters) - A recent rally in steel prices in China, the world’s top steel market, is facing headwinds despite falling inventories, as overcapacity will continue to bite into margins, the China Iron & Steel Association (CISA) said on Wednesday.

Total inventories of five main steel products including hot-rolled coil and rebar in 26 major markets fell 2.8 percent from the end of October to 12.08 million tonnes on Nov.9, CISA said in a statement on its website.

The financing costs for the country’s large steelmakers jumped 29 percent to 61.2 billion yuan for January-September from a year earlier. (Reporting by Ruby Lian and Fayen Wong)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below