Coal and Coke: A few steel mills reduced coke purchase price by 100-120 yuan per ton. Coal markets were mainly stable. Some steelmakers were inactive in buying coal and coke, as they have been requested to cut production in the second half year.

          Raw Materials: Iron ore market headed down. Billet price moved up slightly. Rolling mills and some billet producers in Tangshan have been arranging production cutbacks. Scrap supply was tight on the hot summer season, with price firming up. Ferroalloy market kept strong. The electricity supply in Inner Mongolia was eased, still full of uncertainties.

          About Steel: Chinese steel market price boomed, so did structural steel and industrial wire. The steel market, rebounding from end of June, has re-hit the price rate at the end of April. The price markup may be restricted by government policy, and supported by strong expectation and high cost.

          SteelHome predicted that Chinese steel market will keep going up by the range of 50-100 yuan in the week ahead.

-- SteelHome