24.09.2014 - Metal prices weaken on global macro factors
September is proving to be a rough month for the metals sector. In the first half of the month, prices of steel and base metals have fallen further on poor demand and weaker raw material costs. The strengthening dollar has made matters worse for base metals and internationally prices of aluminium are expected to correct further. With demand from China cooling off and raw material prices coming down on over-supply, prices of steel and other base metals are expected to remain under pressure. Prices of Export HRC (FOB Black Sea) have drifted down to $540 a tonne, while Chinese HRC sheets declined to $498 a tonne. ..............................................Full Article: Source
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