In a client alert Jeffrey Landsberg of Commodore Research pointed out that the average price of hot rolled coil now stands at roughly CNY 2,925.00 ($470.54) per ton.
The researcher also noted that Chinese steel and global iron ore prices have plummeted roughly 6.3% and 5.6%, respectively, since the start of 2015.
“By comparison, Chinese steel prices fell by approximately 14% last year while global iron ore prices fell by almost 50%,” Landsberg added.
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