The 18 independent electric arc furnace (EAF) producers across China regularly surveyed by Mysteel dropped RMB 12/ton last week, with their average margin for making and selling rebar falling RMB 361/t ($55.8/t). Producers' steel production costs have been affected by the high prices that mills pay for steel scrap.
Mysteel Global says it has traditionally seen strong steel consumption in September and October as cold weather encourages more construction activity.
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