the Chinese manufacturers ' Association of iron and steel (CISA< / span>) expect increased volatility in prices for metal in the near future by a decline in both demand and supply. Nonetheless, the Association forecast a stable situation in the market.
"In October, the demand for steel in the domestic market has slowed and steel prices have moved from growth to decline. With the onset of cold weather, market demand will further decline, but the steel production is also reduced, the overall market will be stable and steel prices will fluctuate in a narrow range," - said in the report CISA.
At the end of October, the price Index for steel (CSPI) in China was 104,34 points, down by 17.38 points in annual terms.
In late October, prices on eight major types of steel products that are controlled CISA continued to fall. Prices for long products and flat products fell month-on-month, the prices for plate fell more than long products.
According to the National Bureau of statistics of China, in October, the national production of iron, steel and finished rolled products (excluding duplicate content) made up 65,58 million tons (-2,7%) 81,52 million tons (-0.6%) and 102,64 million tons (+3,5%).