Excess supply in the region drives price slump

摘要

Concerns over the strength of the Chinese economy added to thewoes of the regions stainless steel producers this month. It is nowexpected that growth will decelerate from 7% year-on-year in thesecond quarter, to 6.5% in the third. Manufacturing PMI’s surveysshow the contraction to be intensifying. One recent private indexgave a read of 46.6 for August from 47.1 in July, hitting a 45-monthlow.