Debar market price continues falling

September 29 MetalBiz--August steel crude production was 52.327mlnt tons, up 22.0% over the same period last week and 9.4% from July, while the steel production was 61.923mln tons, increased 28.9% over the same period last year and 9.5% compared with July.

According to the report from MII on September 27, the domestic steel price shifted to dive since early August, and it presented signs of stabilization with a slight fluctuation upward tendency overall after the significant adjustment for more than a month. However, due to the fast increasing production as well as the bigger pressure from the new resources, the export situation remains uncertain.

Steel price also continued falling, Shougang boosted construction steel price significantly on September 28, while debar and the wire rod price for September was down 900 yuan per ton and 850 yuan per ton respectively.

In addition, EU proposed to impose an official anti-dumping duty on the seamless steel pipe from China for five years with a tax rate as high as 39.2%. The proposal will be determined by European Council and released before October 8.