July 2012 | Steel Tracker
Further price slides, but Chinese buyers begin to show interest: International Flat Product Market Analysis
European markets await ECB announcements on potential stimulus.
MBR believes that Chinas steel market still remains one of the only markets in which we may see a significant improvement throughout the second half of 2012. Chinese traders are already reporting a rise in interest levels as prices fell again. Chinese domestic prices currently stand at 4,037yuan/tonne ($636) and export are currently being offered at $580/tonne, a decline of 2% month-on-month and 13% year-on-year.Despite obvious negative impacts to their export market caused by the on-going financial crisis in Europe, domestic buyers may well be remaining on the market sidelines in a hope that further stimulus will be issued in the short-term and thus encouraging them to re-enter the market.Is more stimulus the answer?...European markets are also hopeful of similar news in the way of more stimulus, though...
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