Coated steel producers are still struggling as global demand from white goods, construction and the automotive markets remain depressed. Prices are continuing to fall in China and we expect to see prices slip further next month. Mills will have to rein back production further to give prices a chance to stabilise. Indian prices are being buoyed by strong domestic demand, but we expect to see offers fall as construction activity declines. We think that Indian producers will have to contend with a well-supplied market within the next couple of month, which will drag prices down to international levels.
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