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China may take tougher action on steel yield cutting

Last Friday, deformed steel bar future market slumped dramatically, when real state market continued a downtrend in July, and credit and social financing are sharply reduced. These days, China government speeds up the reform of steel industry, and environment protect inspection is tougher than expectation. Seeing these, we think steel rebar future price show few potential of increase.


Last week, China Shandong province illustrated steel yield cut progress chart for 2016. The National Development and Reform pointed out that, by the end of July, China has only complete 47% of the whole year steel yield cutting target. Thus, during the third quarter and the forth quarter, the country will take a greater action on it.

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