Steelease data shows that steel prices in China’s spot and futures markets fell during May, with the average price for rebar falling from RMB 3,302/mt on May 1st to RMB 3,185/mt on May 23rd, a decline of RMB 117/mt, or 3.55%. Steelease believes the current downward trend for steel prices will continue and that prices still have room to fall during June.
With the price negotiation of Iron Ore coming to the end, China steel industry has been affected by more complicated factors than ever not only from upstream side but also the demand of 7 downstream industries. On top of this, the introduction of low-income housing project, the pressure of inflation control and tight monetary policy has brought mixed impacts towards the industry. One can hardly have an understanding of China steel industry without comprehensive view of the industry. Under such background, yaang feels the urge of re-launching our renowned China Steel Briefing by bringing subscribers with complete data from upstream iron ore price index to 7 downstream Purchasing Manager Indices (PMIs).
Source – Steelease