February 2015 | Steel Raw Materials
Seasonality weighs on Chinese steel industry: Iron Ore Market Analysis
China’s Steel Purchasing Managers Index (PMI) fell to an 11-month low of 43 in January; indicating the steel industry has indeed suffered over this period.
Major Chinese iron ore prices declined over the past week, as Chinese steel mills maintained their stance towards holding lean steel raw materials inventories. In fact, the Chinese steel industry experiences seasonally slack consumption during January and February, as wintry weather slows construction projects in northern regions. At the same time, many market participants make provisions to travel home for the Chinese New Year festival and this has a dampening effect on the countrys whole economy. As a result, MBR...
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