United Bank of Switzerland (UBS) hans announced its China steel market analysis report recently; according to its report, UBS said the current market demand in China has stayed normal but mills' capacity utilization have still stayed at the higher level which caused the steel production costs are actually higher than the spot market price.
USB said after the long holiday, most of China traders have kept the optimistic view for China's steel market and restarted their purchase for stocks; however, UBS said this action may finally cause China's steel price to drop earlier than their expected in the following few months.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63199&division=A6
