China Steel Prices to Rebound in July, Gains to be Limited

SHANGHAI, Jun. 27 (SMM) – Steel prices in China’s domestic market will rebound in July, but any gains will be limited, Shanghai Metals Market’s ferrous branch Steelease foresees. 

The rebound in iron ore prices and easing of tight liquidity will help support higher prices in July for steel products, which fell both in spot and futures markets in June. The average price for rebar dropped from 3,181 yuan ($516) per tonne on June 3 to 3,089 yuan ($501) per tonne on June 25, down 2.89%, Steelease data shows.