According to a report issued by Chinese Iron and Steel Association (CISA) on March 17, the steel prices in China's domestic market have dropped in February, and further fluctuation is expected in the coming period.
The CISA has pointed out that the Chinese steel market will be shaped in more complex domestic and international economic environments in near future. Besides, the implementation of the 12th five-year-plan, the National People's Congress and the National Committee of the Chinese People's Political Consultative Conference, which will be held soon, are to be the domestic factors that will affect the market trends. The earthquake disaster that hit Japan will also influence the Chinese steel market.
The market will maintain its upward trend with slow growth rate, according to CISA's predictions.