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07.04.202607:23:26UTC+00Steel Hits 4-Week Low

Steel rebar futures fell below CNY 3,100 per ton to a four-week low as trading resumed in top consumer and producer China after a long weekend, with investors still grappling with uncertainty surrounding the conflict in the Middle East. Markets are closely watching President Donald Trump’s deadline for Iran to agree to a deal or risk attacks on civilian infrastructure, as the possibility of a prolonged confrontation heightens fears of supply disruptions and a broader global economic slowdown.

Steel prices also came under pressure from high inventory levels and escalating anti-dumping actions targeting Chinese steel. Vietnam has introduced a provisional anti-dumping duty of up to 27.83% on selected Chinese hot-rolled coil products, effective from April 17. At the same time, the Trump administration is preparing to revise tariffs on steel and aluminum, adding another layer of uncertainty to the outlook for the global steel market.

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