Steel Prices to Correct Down as Market Fever Cools Down, SMM Expects

Published: Aug 14, 2017 11:09

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Steel prices will face downward corrections this week after crazy gains since the market will return to rationality along with strengthening regulations, SMM predicts.

SHANGHAI, Aug. 14 (SMM) –Steel prices will face downward corrections this week after crazy gains since the market will return to rationality along with strengthening regulations, SMM predicts.

CISA Lobbying Chinese Authorities for Incentives to Steel Exports, SMM Reports
It should be noted, though, that policy guidance is intended to promote stability and to allow market to have an objective view of impact on market supply from relevant policies, such as environmental protection policies, rather than to push steel prices down.

SMM Analysis: Construction Steel Stocks across China Grow for Four Weeks in a Row
Steel supply & demand is relatively balanced and steel stocks, though up, are still at low levels. So, any downside room will be limited.

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Steel prices

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