Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list

China steel prices find no support from fourth rate cut since Nov

Electric Power | Emissions | Natural Gas | Oil | Crude Oil | Jet Fuel | Metals | Steel | Petrochemicals

Market Movers Europe, Mar 30–Apr 3: Energy prices hit by coronavirus; steel producers revise output levels


Platts World Steel Review

Oil | Refined Products | Fuel Oil | Shipping | Dry Freight | Marine Fuels | Tankers

Mediterranean Bunker Fuel Conference, 9th Annual

Oil | Crude Oil

Kazakhstan's CPC crude loadings surge to record high in March

China steel prices find no support from fourth rate cut since Nov

Singapore — Chinese steel markets fell Monday, finding no immediate support from the central bank's fourth interest rate cut since November.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Steel futures in Shanghai also closed lower.

Spot prices of 18-25 mm diameter HRB400 rebar in Beijing fell Yuan 5/mt ($0.81/mt) to be assessed at Yuan 2,105-2,115/mt ex-stock actual weight basis, including 17% VAT.

In Shanghai, offers for same specification rebar fell Yuan 10/mt to Yuan 1,960/mt ex-stock on a theoretical weight basis and including value-added tax.

"I don't think the rate cuts will help steel markets at all, and as long as mills resist production cuts, steel prices will continue to fall," said a Shanghai-based trader.

In the hot rolled coil market in Shanghai, Q235 5.5 mm thick coil was assessed Yuan 15/mt lower at Yuan 2,230-2,250/mt ex-stock.

A trader in Beijing said that while the latest bank reserve ratio requirement cut would release several hundred billion yuan in liquidity, he doubted it would be channeled to the steel or downstream manufacturing sectors.

Capital released through earlier rate and reserve ratio cuts flowed mainly into equity markets, steel traders said.

The Shanghai Composite Index fell 3.34% Monday, and was down 22% from its early June peak.

On the Shanghai Futures Exchange, the most active October rebar futures fell 1.5% to close at Yuan 2,181/mt.

The October HRC contract dipped 0.8% to Yuan 2,269/mt.

However, one trader in Lecong in southern Guangdong province said the bank's move could provide a boost to steel prices over the next two weeks.

--Keith Tan,, with analysts Sharon Liao, Zhang Jing and Fu Li
--Edited by Jeremy Lovell,