Recently, with decreasing steel prices, high raw material costs, and low demand from downstream buyers, many of China’s steel mills idled their operations for maintenance to ease high inventory pressure and losses.

Besides, because the recovery of home appliances, automobile, and infrastructure industry was still slow and the global situation was still uncertain, traders were unwilling to place orders, further impacting China’s steel exports.

In August, China’s steel demand might maintain at a low level, but it would be better than the steel market in July. With the coming peak season for the steel market, September and October, the cold-rolled product price might rebound. The inventory might decrease slightly, but the overall would still be at a high level.