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China Steel Prices to Rebound in July, Gains to be Limited
Jun 27,2014 16:25CST
industry news
Source:SMM
Steel prices in China’s domestic market will rebound in July, but any gains will be limited, Shanghai Metals Market’s ferrous branch Steelease foresees.

SHANGHAI, Jun. 27 (SMM) – Steel prices in China’s domestic market will rebound in July, but any gains will be limited, Shanghai Metals Market’s ferrous branch Steelease foresees. 

The rebound in iron ore prices and easing of tight liquidity will help support higher prices in July for steel products, which fell both in spot and futures markets in June. The average price for rebar dropped from 3,181 yuan ($516) per tonne on June 3 to 3,089 yuan ($501) per tonne on June 25, down 2.89%, Steelease data shows. 

But, the arrival of low-demand season in most manufacturing sectors in July and August should limit steel price gains, Steelease understands. 
 
China steel price
Steelease survey

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