Chinese steel profitability has declined further on the back of increasing coking coal prices, the report said. Though, the demand lead indicators are still weak leaving the steel price resurrection story in H2CY21 dependent on the intensity of production cuts. Steel fared better than Aluminium as Aluminium witnessed around 4.5% MoM increase in exports during the month. These metal stocks are among top picks by ICICI Securities 13 Sep, 2021, 10:48AM | LivemintĬhinese steel production cuts and a surprising improvement in steel demand helped reduce steel exports on a monthly basis in August, said a report by brokerage firm ICICI Securities.
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