Steel futures fell to around an 8-month low below CNY 4,500 a tonne, more than 20% below its record-high of 5,975 hit on May 11th, as demand in China continues to slow down. The construction sector, which accounts for a quarter of domestic steel demand, remains under pressure after home sales tumbled and Beijing stepped up its borrowing crackdown. Meanwhile, the demand from the manufacturing industry slowed sharply due to power rationing and as car production declined due to chips shortages and

Sifu, i'm just stating fact from steel exchange. When the graph moving sharply downward from the peak, is it should to be call Falling? Not bottoming, steel price still a lot higher than pre pandemic. And from the graph, i did not see it rebounding yet.
Skyrocketing steel price surely not good for construction company. If u is a steel maker investor why come arguing at Haily? Haily has no effect to your company earning. Peace.