From Mac Bank’s June Chinese steel mill survey:
The June results of our proprietary steel sector survey (in which we interview 40 steel mills, 30 steel traders and 30 iron ore traders) point to a peaking of domestic demand conditions with construction and infrastructure orders cooling, although partially offset by better export orders and improving manufacturing orders. Profitability at the mills remains healthy by historical standards, and destocking of both steel and raw materials appears to be coming to an end. Whether the demand data improves in July or continues to contract will depend on how impactful the recent mini-stimulus measures turn out to be.
Source: Macrobusiness