10 Sep, 23

Asian Markets Flooded As Chinese Steel Glut Intensifies

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Via Metal Miner The Construction MMI (Monthly Metal Index) rose for the first time in five months, welcoming a 3.97% increase. However, this rise could prove deceiving as the index still faces numerous bearish sentiments. Bar fuel surcharges rising helped the index rise month-over-month, along with did aluminum bar prices. Steel rebar and h-beam steel prices, on the other hand, moved sideways. Indeed, China is their primary source, and the weakening of Chinese imports caused both to suffer. In total, Chinese imports into the U.S. fell 7.9% compared…

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