Steel prices still volatile as oversupply remains: CISA

摘要

Given the high steel production but slow demand from both domestic and overseas markets, oversupply in the Chinese steel market will remain for the rest of the year and steel prices will continue to be volatile, the China Iron & Steel Association (CISA) states in its latest monthly report. Although faced with a serious oversupply problem, CISA believes the weak steel prices will be supported by rising costs of electricity, bank loans and labour. But the association admits swelling steel inventories have further dented market sentiment and slowed buying activity.