Strong increase in steel inventory. Supply pressure increases and steel PMI index continues to decline.
Market price for steel products continues to decline.Downstream demand recovers more slowly then expected. Market prices at the end of the first month after the spring festival show weakness.
At the beginning of the month the funding pressure in the market increases, so currently downward pressure for steel price deepens.
The impact of slowing emerging market growth is being felt on commodity prices, particularly metals.