The Platts China Steel Sentiment Index (Platts CSSI)is out and shows a reading of 45.90 out of a possible 100 points, a six-month low. More from the WSJ:
The July reading is down 6.03 points from 51.93 in June and the lowest reading since 28.49 in January this year. Steel market participants anticipated a decrease in both domestic and export steel orders, but were more positive towards domestic orders.
In terms of prices, survey respondents’ outlook for domestic steel prices in July was much more positive than their outlook for export steel prices. Also, producers and traders of flat steel products, such as hot rolled coil, were significantly more bullish than last month. The flat steel price index reached 62.37 in July, up 27.10 points from 35.63 in June; while the long steel domestic price index was 50.00 in July, a more modest increase than for flats, compared with 45.45 the previous month.
The Platts China Steel Sentiment Index Survey – July 2014 July Change from June June Platts China Steel Sentiment Index (Reflects New Orders) 45.90 -6.03 51.93 New Domestic Orders 46.71 -5.99 52.70 New Export Orders 36.42 -5.31 41.73 Additional Sentiment Categories: Steel Production 46.43 -12.95 59.38 Inventories Mill Inventories 46.43 5.80 40.63 Trader Inventories 39.35 4.18 35.17 Price Expectations Domestic Long Steel Products Prices 50.00 4.55 45.45 Domestic Flat Steel Products Prices 62.73 27.10 35.63 Export Steel Prices 47.72 7.91 39.81
