The China Price-SCI steel price index closed at 61.46 points in the second week of June, down 0.56 points week on week, according to the SCI99.com, a commodity information provider in China.
In recent months, sales in the domestic property market have rebounded, but the de-stocking process will be long.
Meanwhile, the country's property investment has showed a falling trend, implying the limited effect on steel consumption. The recent increase in operating rate of steel mills signals big supply pressure.
Given the above factors, the domestic steel prices are expected to continue falling in the future, said SCI99.com. The China Price-SCI steel price index was released jointly by the Price Monitoring Center of National Development and Reform Commission (NDRC) and the SCI99.com from January 2015.
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