Aug.17th Chinese market recap- Chinese steel product is slowly decreasing and Jan-July roughly fell 3-4% in volume Y-o-Y. Market reacted positively to the coming demand then slight increase In steel price.and debar trade had come back to 100000mt daily. Local channels had more or less better buying activity and some areas cut inventory. Export market is a little improved in coated items and leading mills do not change HRC base. Local billet index +10rmb and steel export index up 2usd. Raw materials IO is stuck around 95usd and coke price is facing some adjustment in social inventory. EAF production ratio is a little better due to improved margin. Dollar is depreciated much and just touched 6.73 range then export offer will be more tougher to argue.
