Chinese silver imports rose a modest 6% y/y, but more importantly, imports in powder form rose by a third y/y and are up 42% for the year to date.
The American Iron and Steel Institute (AISI) and allied manufacturing groups has reiterated their call for strong and enforceable currency manipulation disciplines in all future trade agreements, including the Trans-Pacific Partnership (TPP).
Steel prices in China’s domestic market are expected to rebound in September, Steelease foresees. The average price of rebar fell to 3,081 yuan per tonne Aug. 19 from 3,122 yuan per ton on Jul. 31, a decline of 41 yuan or 1.31%.