[Ferro-Alloys.com] China’s spot steel market recorded gains on Thursday October 10 due to a slight improvement in sentiment.

 

Grade III rebar in Shanghai was traded at 3,380-3,520 yuan ($550-573) per tonne during the day, up 10 yuan ($2) per tonne from Wednesday. In Beijing, the same product was traded at 3,420-3,480 yuan per tonne, flat since September 30. “As the typhoon that hit eastern and southern Chinese provinces has blown over, some pick-up in demand is expected, but the impact will not be that significant,” a trader in Shanghai told.