Chinese steel market sentiment is generally unchanged in July from the month before, with domestic orders expected to remain stable, though the outlook for export orders has improved, according to the latest S&P Global Platts China Steel Sentiment Index or CSSI, which showed a headline reading of 27.45 out of a possible 100 points. The headline CSSI, which measures the combined outlook for new domestic and export steel orders, fell by 1.79 points from 27.45 in June. It was the third consecutive month the index has been below the 50 threshold, with July’s CSSI the weakest since January. Over the first seven months of the year, the headline index has averaged 43.93 points, compared with 40.02 over January-July 2017. A reading above 50 indicates expectations of an increase/expansion and a reading below 50 indicates a decrease/contraction. Expectations for domestic steel orders deteriorated by 3.92 points from the month before to 27.43 in July. The outlook for export orders recovered from last month’s record low, by 22.80 points to reach 27.77 in July. The outlook for prices of flat steel, which is mainly used for manufacturing purposes, improved for the second month in a row to 48.02, up by 12.60 from… continue reading
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Source: CTRM Center