Chart of the Day: Chinese HRC Predictably Falling

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Ferrous Metals

A falling yuan makes Chinese steel exports more competitive in the global markets.

Steel has been in freefall in China for the entire year. It has fallen by more than 30% since the beginning of 2015.

Price of hot-rolled coil in Chinese yuan/renminbi.

Price of hot-rolled coil in Chinese yuan/renminbi. Source: Antaike 

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