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Global steel sector, whose health depends a lot on trends in China, has been watching the post vacation steel price movement in Chinese domestic market. But the prayers for recovery seem unanswered as the steel prices remain in negative spiral posing threat of cheaper export levels in coming times although Chinese steel mills are attempting hike of USD10-15

The misery in Chinese steel sector is unlikely to vanish as the negative trends were seen during last 7 days after Chinese market reopened on last Wednesday. Domestic prices of semis, long products and flat products posted WoW losses at most places setting the post-holiday tone

High inventory levels with steel mills coupled with subdued steel demand due to severe winter in North China are continuing to exert downward pressure on steel prices as the activity is resuming.

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Sn
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Al
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Cu
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Weekly Poll
Coking coal prices to weaken in Q2
Yes
No
Can't Say
Baltic Dry Index
04 Mar, 2015
BDI
559
BCI
478
BPI
576
BSI
550
Source: DryShips.com
Currency Rate
05 Mar, 2015
USD
1.0000
AUD
1.2801
BRL
2.9314
CAD
1.2506
CNY
6.2751
EUR
0.8954
GBP
0.6515
INR
61.8317
JPY
119.7500
RUB
61.7990
ZAR
11.7503
Source: http://www.xe.com