Chinese steel prices post second consecutive gain with 3.9% rise in June
Jul 21, 2009 | 11:59 AM
China's steel prices rose for the second consecutive month in June thanks to recovering domestic demand, according to the China Iron and Steel Association (Cisa).
Steel prices as a whole increased 3.9 percent from May but still trailed the same month last year by 37 percent.
"The effects of the government's economic stimulus package further emerged in June, the local economy stabilized and improved, and local steel demand obviously grew and supported steel prices in a slight rebound," Cisa said. "Domestic steel demand (is expected) to grow steadily in coming months as government stimulus measures successively work out." However, the association expects local steel prices to remain relatively stable and oscillate in the third quarter.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.