SHANGHAI, Apr 9 (SMM) – Several specifications of long steel almost ran out of stock in the Chinese domestic market last week, sources told SMM.
This was resulted from mills’ rather low output and an increase in downstream demand. SMM believes the downward room for steel prices is limited in the short term.
The 6mm coiled rebar was in tight supply in several markets as China has limited capacity for such products. Some steelmakers also cut the output for 6mm coiled rebar to produce other higher-quality and more profitable steel, SMM learned.
In addition, the 8-10mm wire rods almost ran out of stock in Hangzhou, while the supply of the 18mm, 22mm and 25mm rebar was short in Wuhan.
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