Weaker yuan, decline in Chinese ferrous futures push down Asia steel billet prices

Steel billet prices in Asia took a hit in the week to Thursday May 25 due to the softened Chinese yuan and sharp decline in Chinese ferrous futures, sources told Fastmarkets.

According to the State Administration of Foreign Exchange, the central parity rate of RMB - an indicator for the spot interbank foreign exchange market as well as exchange rate quoted...


Nabilah Awang

May 26, 2023

07:23 GMT