Affected by scrap prices down in Oct and imported cheap resources, this week, many steel mills decreased the prices of rebar and small profile, the market expected that the scrap price would further decline in November and market demand still difficult to improve, long steels have space to down again.

Rebar: the southeastern US mills decreased the rebar price of USD10-20 / short ton, ex-factory price was quoted at USD470-535 / short ton. Meanwhile, the imported price of resource from Turkey delivery to the port in quoted at USD360 / ton (CFR, Houston).

Small profile: Nucor, Commercial Metals Company (CMC) and Gerdau announced to cut prices of small profiles of USD25 / short ton, market participants expect the Mexican steel mills might follow the US to decrease the export prices.

                                                       XINSTEEL NEWS