Experts say the steel industry is expected to have a profit of more than 20 billion yuan in July based on the highest monthly rise of 11.9 percent in the benchmark steel index in eight years. The sector is likely to pocket 100 billion yuan in profits in the whole year of 2009, up from the last year’s 84.6 billion yuan. The long product index was up 13.4 percent and the flat index rose by 9.5 percent during the month. Recovery in demand, the end of de-stocking and favorable policies intended to stimulate the economy were responsible for the price rally. Any possible price adjustment in the third or fourth quarter would be a modest, rather than a sharply plummeting one.