Steel prices continue downward trend

Steel prices continue downward trend 发布时间:08-11-21    阅读次数:   

Domestic steel prices will continue to drop in the short run due to weakening demand from downstream sectors and high steel inventory. Steel price fell 2.7 percent last week ending November 16, going down 0.9 percentage point further over the previous weak. The average steel price in October stood at 4,739 yuan per ton, down 16.4 percent from September and lower than that during the same period of last year. The steel market is expected a weak fundamental in 2009 but may recover at the end of 2009 or 2010.