[Ferro-Alloys.com]The price began to fall after the market opened up on Tuesday (Sept. 23), hitting a new low this month at $16,483/t, and then started to rebound, closing at $17,179/t. The price rose from the low at $13,334/t at the beginning of this year to the high at $21,625/t in the middle of May, increasing by $8,291 per mt. The price reached a new low this month, which offset $5,142 per mt of its increasing this year.

 

There is still no clue that the situation of China’s steel industry has become better. The oversupply can hardly be solved in short terms, and the slowing growth of China’s economy makes things worse. Most of China’s steelmakers are striving to reduce their deficits. An unconfirmed report said that one of China’s largest state-owned steel mill had tens of billions of yuan debts to the banks.  

 

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