China's National Bureau of Statistics data released on the 9th, 1 July year-on-year growth rate of China's fixed asset investment was flat with the first six months. In July, the year-on-year growth rate of industrial and consumer to fall compared to June, but the chain emerged than the data showed a warming trend. July the overall data, as a whole has been warmer, and conducive to steel prices stabilized.
National Bureau of Statistics CPI data on the 9th of 1.8 percent in July to provide some space for the introduction of the policy, the performance of monetary policy this year has twice lowered deposit reserve ratio and the two interest rates. The recent stock market also appeared in a certain rebound, and the technical trend is still possible to continue to rebound. These are good short-term external environment provide a stabilized environment for steel, but continue to support whether the medium-term, but also continue to observe.
Ore price trends directly affect the cost of steel, if the demand does not follow, lead ore prices continue to fall, then, will no doubt continue to make steel prices hit new lows ore short-term stabilize the present situation, and still have room for fall, but in the long run.
Steel production amplitude far not reached the standard of price pulled, the late steel production rate would be decided to move up the margin, and this move up will be short-lived. The overall external environment, conducive to a slight rebound in prices of steel price shocks.
Therefore, the short-term steel prices will stabilize or rebound slightly, but the long term, still have room to fall.
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