CISA: China's steel prices face downward pressure

The slide seen in China's steel market since late May is expected to continue this month amid weakening market expectations and the slowdown in destocking, according to the latest monthly report of the China Iron & Steel Association (CISA).

On the macroeconomic front, the Middle East conflict and the resulting energy supply disruptions are exerting pressure on global economic growth. The latest Economic Outlook report of the Organization for Economic Co-operation and Development released on June 3 showed that global economic growth is projected to slow from 3.4%