As rebar futures prices in China fell on March 21, global spot and market prices also declined.
Supply fell as steel mills unloaded their goods and is expected to fall further. As a result of the stagnation of import-export in steel demand in China, the number of shipments was lower than expected.
The transaction price of steel has dropped to 10-20 yuan/mt ($1.45-2.91). According to market analysts' forecasts, the prices of national steel will decrease further in the short term.
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