Although iron and steel prices have fallen, China's total consumption of iron and steel is still large, with demand for iron products still reasonable due to the ongoing industrialization and urbanization."

Chi Jingdong, deputy secretary-general of the China Iron and Steel Association

"There is a lack of confidence on a sustainable rally after such a big rout. Significant and visible improvement in the economy and corporate earnings are vital for sustaining investor confidence."

Jimmy Zuo, a Shenzhen-based trader at Guosen Securities Co

"Right now, the BRICS face serious cyclical and structural challenges and India seems to be the only bright spot in the club. Russia, Brazil and South Africa are either in recession or dangerously close to it. China is struggling to maintain its growth momentum as it tries to rebalance its economy."

Christian Deseglise, co-founder and director of the BRICLab at Columbia University

(China Daily European Weekly 07/24/2015 page18)