Steel futures prices in China hit a two-week low as the rise in coronavirus cases in China, the world's largest steelmaker, cast a shadow over the economic growth outlook.
Concerns that broader and more severe restrictions would be implemented also depressed the prices of steelmaking materials such as iron ore and coke.
Rebar steel SRBcv1 prices on the Shanghai futures exchange fell 3.4 percent to 4,728 yuan ($744.73) a tonne, the lowest level since March 1.
Hot rolled steel (HRC) coil SHHCcv1 prices fell 2.6 percent to 4,994 yuan per tonne, the lowest level since March 1st.
Iron ore futures DCIOcv1 for May delivery, the most heavily traded contract on the Dalian commodity exchange, fell 4.4 percent on the day to 780.50 yuan a tonne.
Dalian coke prices DJMcv1 fell 6.2 percent, while coke prices DCJcv1 fell 3.6 percent.
Stainless steel SHSScv1 prices fell 0.9 percent.
1,807 new coronavirus cases were reported in China yesterday, marking the highest daily increase in the last year.
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