Followed with price decline in July, domestic steel price kept low level. Baosteel's price adjustment stood up whole steel market, however, fast release of production and demand's downtrend gave high pressure on market. Furthermore, cut of export rebate can decrease exports directly, leading steel market signing over-supply. Currently, cost can support price in certain extent, and inventory's rebuilding drove price of most products rebound up though in slight extent. Antaike forecasted that domestic steel market can recover to rational level in the near future. Demand season in September and October can stimulate long products market, but recently there was over-capacity in HR and CR market, thus sheet market will keep low level in the future months.
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