SM market in China continues to be subdued, extending last weeks' bearishness

South China's SM market remained subdued last Friday, with sellers' high-end dealing prices pegged at RMB11900-12100/mt, facing great resistance. Market sentiments extend the bearishness of the previous session. Market sentiments in the Eastern part of the country also remained weak. Affected by the weak sentiments of eastern China, the SM market of Shandong province appeared to be dull, with price being quoted at RMB12400-12450/mt (on the delivered basis).
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