Since the mid of April, Chinese carbon steel price began to down all the way and has dropped by 15 percent up to now.
Moreover, there is no sign to show that the Chinese carbon steel price would stop falling right now.
On 9th July, the secondary rebar with the diameter of 25mm and high carbon steel wire rod with the diameter of 6.5mm were quoted at RMB3,882/ton and RMB3,891/ton, down by RMB73/ton and RMB65/ton on last week respectively.
It is estimated that most Chinese leading mills would probably keep cutting the ex work price further in this August.
(www.yieh.com )