Steel prices in China are extending a downward trend this year as demand remains sluggish and government deleveraging efforts add uncertainties to the market outlook.
The main futures contract for rebar — reinforced steel bars — closed at 3,606 yuan ($501.8) a ton Monday, down 2.41% for the day and a near 6.5% drop since the start of the week-long break for the Chinese New Year on Feb.8. Hot-rolled coil futures closed down 1.95% at 3,767 yuan a ton, a 5.5% drop from before the holiday.
Malaysian Anti-Corruption Commission raids lead to arrest of state official linked to illegal bauxite mining in Kuantan
Chinalco together with Dalian Liaonan Shipyard unveils joint innovation centre for ship equipment
SMM alumina price opens the week with a growth of RMB22/t; Australian alumina FOB price rises by US$37/t
