China Iron & Steel Association (CISA) warned that rising RMB currency will jeopardize the export of China's steel industries in H2, 2011.
Last Friday, the currency rate of RMB against the US dollar has increased to below 6.4 (6.3972).
Besides, CISA predicted that steel export will slide in the H2, 2011 although it may slightly pick up in September as steel demands will rise for infrastructure projects and house construction.
CISA said that demand for long products will be better than flat products, and the construction steel demand will rise as the government expands the investment in hydro-power and railway projects