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Longs Keep Going Down, at Least Steady Worldover

Posted by:CYD Time:2012.07.18 17:36

In US, longs producers reduced prices by US$ 30/s.ton for rebar during June and further falls are likely in July while the scrap price continues to drop, though the full scrap decreases are not being passed on.

 Long products prices in Europe have decreased slightly since the start of June, with demand not as strong as usual for the season. They are likely to weaken slightly during Q3, if scrap prices remain low.
Prices in Asia were steady, but demand is likely to weaken during the rest of the quarter. If imported scrap prices hold firm, there will be some upwards pressure on billet and longs prices.
In China, construction activity is slowing in the hot summer and inventory levels are higher than last year, so domestic prices are likely to slip downwards during July

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