Aug.19th Chinese market recap- Chinese stock market fell 2.4% while coal performance is better. Steel market is rising a bit with better demand logic and cost support shows firm recently. Most sales are lifted 10rmb then social inventory is mildly declining. Export market is firmer and leading HRC exporters had closed Sep round with new base +5usd then coated mills also request a little higher offer. Local billet index stable and steel export index up 1usd. Raw materials IO is a little better and coke side is the best part in steel area which support whole chain higher. EAF mills most suffered loss then +3% is closed in southern China more. Market is pushed by cost news while demand problem is still unsettled then general condition is still stable.
