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Voice of China "Network News" reported that, following the 27 Baosteel and other steel mills down the ex-factory price of steel products, Anshan Iron and Steel and Shougang has also lowered the ex-factory price of the August plate and other varieties. The domestic steel prices show downward trend accelerated.

Since June, the the Hefei of Guoqiang steel sales market, dealers have felt more and more bad business. Wang Lihua, general manager of Hefei Yuanli Materials Co., Ltd., told reporters that the selling construction rebar, wire rod steel prices all the way down from last year.

Analyst: In the past, as we are more than six thousand, and now more than four thousand to over three thousand, not like that profiles more than three thousand tons steel are cheapening.

Since April this year, the national market, the main varieties of steel prices continue to decline. July 18, the domestic steel trading price fell to 4068 yuan / ton, down 0.45 percent. This price also fell below the low of July 15, 2010, the lowest two and a half. Analysts said the down economic growth, high yield is the main reason this year the domestic steel fell.

Analysts are in a downturn: like household appliances, automobiles, engineering machinery, shipbuilding, so a direct result of extreme contraction in steel demand.

At the same time, domestic steel production remained high. China Steel Industry Association data show that in early July, the key steel enterprises produced a total of 07,200 tons of crude steel 16,574,400 tons more than last year increase. Production increased further exacerbated by a drop in prices.

Analysts said the short term, steel production is declining dramatically willingness is not strong, steel production is still expected to maintain a high level. If the iron and steel enterprises are not from their own production from the current situation, the industry will face a new round of reshuffle.