BEIJING (Scrap Monster): On the fourth day since  rebar future steeped low, it creates a record of all time lowest marking in rebar industry. As the number of new orders and outputs tuned down the vast factory sector, China is slowing down for August.  The reports of this month show a fall of Index from 51.7 to 50.3

Shanghai Future Exchange fell lower to 2,983 yuan per tonne, this is to be considered as the weakest fall since March 2009 (2,986 per tonne). An analyst at Jinrui Futures, Cao Bo stated that, if no economic stimulus package is released sooner, there will be no improvement made in the steel demand. He also added that, the government is not likely to provide the industry with any kind economic stimulus package in near future.

The optimism gained by the world's second developing country is slowly sliding away, as the latest PMI readings increase the risks to be faced. The government hopes to clear the issues of the second half of this year. The government states that the problems being faced are ‘mostly policy driven', hence it is not ‘self sustaining‘.