News Snapshot:
- Steel prices fall to the lowest levels in more than two weeks amid demand and profit concerns. - Electricity rationing due to heat waves curbs profit concerns and disappoints steelmakers. - Doubts about the PBOC’s ability to revive the economy, the jump in coronavirus cases puts downward pressure on the metal’s price. The price of steel is on slippery slopes as bears applaud somber concerns surrounding the biggest user of metal, China, during early Thursday in Europe. Also keeping steel bears hopeful is the lack of significant data/events that allowed traders to consolidate the metal’s recent gains after holding...
