Nov.12th Chinese market recap-Chinese market is going normal logic before winter and price is a little weaker today. There are slight declining on social inventory around 200000mt while demand does not pick up and mills had more plan to cut output. Steel price is going stable mostly then sentiment is hesitant in mid November. Export market is same while more buying interest showed up for ME market and some big orders in combination of different items are near concluded and South American market is going better then SEA. 50K HRC sold to Turkey due to mill accident at commercial rate.Local billet index unchanged then steel export index down 1usd. Raw materials IO is standing above 90usd/62%FE and coke finished 3rd round price cut and mills’ cost pressure is less. USA CPI is on higher side then more dollar interests may happen next month and steel is similar as other commodities.
