SHANGHAI, Apr. 15 (SMM) – The silicomanganese alloy market held steady today, with transactions quiet and producers unwilling to give quotes. According to an SMM survey, profits of silicomanganese alloy traders dropped noticeably, and combined with steel plants paying for goods slowly, traders were faced with difficulties to operate. Some market players believe it is favorable to stay on the sidelines and secure cash flows sufficient.

The Ministry of Housing and Urban-Rural Development has submitted the revised version of Reinforced Concrete Steel Section 2: Hot Rolled Ribbed Steel Bar to the Standardization Administration of the People's Republic of China (SAC), and it is expected to be released in 1H. The new standards will eliminate HRB335 (second grade rebar), which will significantly affect the entire rebar market and industrial structure. But it is unrealistic that China ordered to suspend second grade rebar production and sales by May 1st. The MIIT postponed the timing for the elimination of second grade rebar to this yearend.