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Our Advance/Decliner Index posted another small decline this week, dropping to 71% from last week’s 73% and 74% recorded two weeks ago (any reading over 50 means that the number of price increases exceeded the number of declines).

Our China Index was the driver of the small overall drop as the reading declined from the mid-August 2011 high of 92% seen last week to 55% as pricing for steel products was mixed during the week.  Improved pricing in East Asia, the CIS and Europe lifted our Ex-China Index from 68% to 76%, nearly offsetting the downturn in China.

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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