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Steel rallying with Chinese builders beating mills: Commodities

Posted on 05 September 2013

The fastest Chinese steel output on record is still too slow to meet demand from builders, reducing inventories and driving prices toward a bull market. Production of steel reinforcement bars rose 14 percent to 113 million metric tons in the first seven months and stockpiles slumped 35 percent from an all-time high, data compiled by Bloomberg show.
Rebar, accounting for almost one-third of steel output in China, will average 4,000 yuan ($655) a ton in the fourth quarter, 7 percent more than now and the highest in more than a year, according to the median of 15 analyst estimates………………………………………..Full Article: Source


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