Manganese Ore Price to China for July Shipment Unchanged

BEIJING, July 2 -- Chinese steel makers are still confronted by a grave situation of sluggish external demand and quickly climbing capacity, the Ministry of Industry and Information Technology (MIIT) said in a report released Tuesday.
&nbsp;&nbsp;&nbsp; Despite the positive indications of rising demand and falling inventories in May, China's steel market is still under great pressure from a relatively high level of production, the report said.
&nbsp;&nbsp;&nbsp; Some products, especially hot rolled strips and thick plates, have been clearly oversupplied, it noted.
&nbsp;&nbsp;&nbsp; While the demand for deformed steel and steel wire has been driven up by investment, the market is also likely to have excessive capacity as mid- and small-sized steel plants resume and expand production.
&nbsp;&nbsp;&nbsp; And the impact of foreign market can't be ignored, the report said, concerned about sharp declines in exports and soaring imports.
&nbsp;&nbsp;&nbsp; It calls on domestic producers to phase out outdated capacity and match production with current market demand.
&nbsp;&nbsp;&nbsp; (Source:&nbsp;chinamining.org)