China's steel price fall unlikely, expert

China's steel price is impossible to go downward in the next few months, said analysts at the Fujian Industrial Economy Operation Conference.

China's steel price fell in June, because of steel demand's off-season between June and August and China's steel export restriction policy issued at that time.

China's steel price resumed and picked up from February, and reached the peak in May.

However, the government announced the collection of more 5-10 percent of tariff on over 80 steel products from June 1.

With the implementation of the new export rebate policy starting from July 1, some enterprises shifted their attention from overseas to domestic market thus helping price to go down moderately on the steel market.

With China's restriction on steel export, domestic steel export will be narrowed in the next few months.

But with soaring demand on the international market, steel export will not fall largely. So, the price is impossible to fall down in the next few months, analysts said.