China steel price index decline further in June, down over 14% on year
China steel price index decline further in June, down over 14% on year

China steel price index decline further in June, down over 14% on year

 

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The China Steel Price Index (CSPI) compiled by the China Iron and Steel Association hit 122.52 the end of June, sliding 8% from the previous month, picking up by 3.13 percentage points from the previous month and falling month on month for the second consecutive month.

The price index slid by 14.61% from the same period last year, falling year over year for the third straight month, according to the association.

As China’s domestic Covid situation gradually gets controlled and a series of policy measures to stabilize the economy kick in, steel demand from downstream industries are expected to be released and steel prices will likely gradually stabilize, said the association.