[Ferro-Alloys.com] The steel price index issued by the China Iron and Steel Association (CISA) stood at 109.45 points by the end of June, down 1.49 percent from the previous month and marking a 5.48-percent slip compared with the same period last year.

The price drop, withstanding a cost hike caused by more expensive raw materials like iron ore, was the result of stable demand balanced out by supply upticks, the CISA data showed.

China's steel scrap prices have kept an upward trend since June, partially due to tight supplies.

The prices are forecast to rise by a further 50 yuan (about 7.35 U.S. dollars) per tonne to reach a high for the year, according to a bulk commodity consultancy.

The consultancy also ruled out the possibility of steep price cuts in July.

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• [Editor:kangmingfei]