The June results of the China steel sector survey conducted by Macquarie Research show conditions remained challenging over the last month

The June results of the China steel sector survey conducted by Macquarie Research show conditions remained challenging over the last month. Profitability in the sector continues to look poor and this has impacted Raw Material stock levels and purchasing intentions. Macquarie reinforces its theme that it is best to be in large, liquid and high-quality names. BHP, RIO and Glencore look well placed.