China steel prices to weaken in Q3 - Shaoguan Steel

Newswire

SHANGHAI, June 25 (Reuters) - China's steel prices are likely to continue to weaken in the third quarter, as the steel industry suffers from growing supply and ebbing demand, a senior official of Shaoguan Iron and Steel Group said on Friday. "The steel industry has entered a long downturn. Some mills have already cut production in June," said Deng Yong, deputy head of the strategic development department. "Steel prices are likely to keep falling in the next three or even five months. The ...

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