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Some Thai Steel Prices Plunge on News of Policy Shift in China.
Byline: Busrin Treerapongpichit
May 3--Signs that China wants to rein in its economy have sent some steel prices plunging, with many purchasers halting buy orders on the odds that prices may fall even further in the near term, according to Wikrom Vajragupta, director of the Iron and Steel Institute of Thailand.
Dr Wikrom said steel prices had been falling for the past few weeks, particularly billet, which is a raw material in construction steel.
Billet prices have fallen to US$300 (12,000 baht) a tonne from $400 early last month, partly due to China's new policy which includes limits on new property and construction projects.
However, ...
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Source: HighBeam Research, Some Thai Steel Prices Plunge on News of Policy Shift in China.