Aug.20th Chinese market recap- Coking coal is very tight supply recently and September futures started rising max limit then steel cost is very firm. Steel market is not so strong then price is changing in narrow range and price shows a little improved. Social inventory is less around 180000mt then mills’ output is cut by some mills. Export market is firmer with softer dollar and September round allocation is closed ex most leading mills. Local billet index +10rmb and steel export index up 2 usd. Raw materials IO is under pressure with half dollar price cut while coke side will keep strong condition for a period. USA Debt had climbed over 40 Trillion then dollar is shaky in most exchange system and export will be hard to be predicted in budget.
