Aug.4th Chinese market recap- Chinese market is stabler after continuous adjustment recently while demand itself had less improvement. General weather is negative with high temperatures then most demand is on low side and local sales rate is 10rmb changes. Today most base is unchanged and sentiment is neutral. Export market is weak but most mills do not lower export base then Chinese base is unchanged while other ASEAN mills adjusted base lower around 5-15usd separately. Local billet index unchanged and steel export index unchanged. Raw materials are in weak falling in which IO port inventory is over 0.17 billion MT and coke price is passing 3rd changes process. Chinese export volume is -5% lower Y-o-Y and trade price unchanged so far.
