Steel Price extends losses as China, Europe signal demand-supply mismatch amid recession fears

Steel Price recalls bears after a brief absence during the last week as economic fears join the imbalance of the demand-supply matrix.

That said, the Construction steel rebar on the Shanghai Futures Exchange (SFE) fell more than 3.0% to 4,181 yuan per metric tonne while hot-rolled coil dropped around 3.5% and stainless steel dipped 0.9% per the data source Reuters.

The industrial metal’s latest weakness ignores the US dollar pullback from a two-week top as demand from the largest customer China and Europe appears limited of late.