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After increasing four straight weeks to a one year-high of 87% last week, our Advance/Decliner Index fell back to 74% this week (any reading over 50 means that the number of price increases exceeded the number of declines).

Our Ex-China Index declined for the first time in five weeks as some mills – most notably in Turkey – were reducing export offers due to a slowdown in overseas demand.  Our China Index fell to 80% from the 7-month high of 92% reached last week, although pricing continued to improve for most products.

Our full report provides further thoughts about global steel pricing trends and our outlook as well as implications for steel equities.

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