Economy
August 13, 2015
Update on the Chinese Yuan
Written by Peter Wright
The following article was written by Peter Wright, consultant and instructor associated with Steel Market Update. Mr. Wright writes a more detailed article for our Premium level clients that spells out details of currency changes for all of the steel trading nations. He noticed that the Chinese government is intervening in the value of their currency which has an impact on Chinese export pricing to the United States and elsewhere.
On Wednesday the Yuan was devalued for the second day in a row making a two day total of 3.0 percent (Figure 1).
