In July, the recovery of the global economy continued slowing down. While steel demand remains weak in the international market, mills overseas are apt to reduce production.

The low steel output in Ukraine and Russia was caused by multiple factors such as unsolved challenges in logistics as well as export restrictions.

As the steel supply drops along with the demand, the international steel price keeps adjusting itself. In August, China's steel demand will rebound a bit, yet the whole global market may still need more time to refresh itself. It was expected that the international steel market will fluctuate weakly in August.