Steel Prices likely to remain stable

摘要

Steel prices were marginally down by 3 per cent in July at $580/tn while coking coal price was down substantially by 13 per cent month-on-month to $170/tn. Iron ore 62 per cent grade price rose by 1 per cent MoM to $61/ tn while 58 per cent grade iron ore price increased by 1 per cent MoM to $44/tn, demand for iron ore remained firm. China HR sheet price was almost flat (up by 1 per cent) at $699/tn, according to research firm Emkay Research. Global data indicates slower industrial growth in China in July’18. Ahead of this, the US imposition of $34 billion tariffs on Chinese exports resulted in deceleration in the Chinese economy. Chinese PMI Index stood at 51.2 for July518 vs 51.5 in June’18. However， demand has been stable.