China Interest Rate and RRR Cuts to Little Support to Steel Prices, SMM Foresees

Published: Oct 27, 2015 11:35

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China’s steel spot prices are not expected to get a boost from it central bank’s cuts in interest rates and requirement reserve ratio, Shanghai Metals Market foresees.

SHANGHAI, Oct. 27 (SMM) – China’s steel spot prices are not expected to get a boost from it central bank’s cuts in interest rates and requirement reserve ratio, Shanghai Metals Market foresees.

According to SMM, the average spot price for rebar was up 6.5 yuan per tonne on October 26, but that for hot-rolled continued falling, down 6.9 yuan per tonne.

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