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Our Advance/Decliner Index came in at 73% this week, essentially flat compared with last week’s 74% (any reading over 50 means that the number of price increases exceeded the number of declines).

Our China Index hit the highest level since last August 2011 – when the slowdown started – rising from 80% to 92% as Chinese steel prices strengthened despite increased noise of a macroeconomic slowdown.  The nominal drop was driven by our Ex-China Index falling for the second straight week from 72% to 68% mainly due to weaker prices in the MENA and CIS regions.

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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