Prices in China's domestic market continue to decline.
Billet quickly dropped to 3410 CNY/MT EXW (464 USD/MT including VAT - 406 USD/MT excluding VAT), showing a decrease in offers by CNY 190/MT (26 USD/MT) for this week.
Wire rod fell at least CNY 110/MT (or USD 15/MT) to 4030 CNY/MT EXW (552 USD/MT including VAT / 480 USD/MT excluding VAT).
Thus, in just two weeks, the decline in prices in China's domestic market exceeded 35-40 USD/MT. This situation also led to a sharp decline in the demands in the construction sector. Experts, on the other hand, predict that the downward trend in prices will continue.
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