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| Monday Market Monitor - China - WEEK 11 - On the run - 22 Mar, 2010 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Chinese steel market, in tandem with other markets, continued to exhibit major surge in prices for both long and flat last week. But surprisingly BaoSteel announced their prices for flat products for April and the prices of pickling products, HR, galvanized products, electrical steel etc were kept unchanged. Because of the rumors of sharp rise in iron ore price, most predict that Chinese large steel mills will hike prices by CNY 200 per tonne to CNY 300 per tonne. Thus the steel prices started a sharply and strong pulled up process from mid-March. The steel futures and over the counter electronic market also added the fuel. Although BaoSteel’s prices unchanged announcement extinguishes the rising flames, an expert said as a positive factor to the prices hiking, the prices of the three major steel mills have been speculated ahead. So the impact of steel price adjustment has been digested in advance. Once the adjustments become clear, a pullback after the sharp hike is a normal phenomenon. Thus market participants do not have to panic too much. It is reported that the domestic steel prices have entered an upward passage and shown vigorous increase in the past week amid which some trading houses held tight the resource and felt reluctant to sell. Currently, the demand appears good though some of the transactions are concluded between the traders and real consumption from the end users isn't fixed. The Chinese Long Product Price Index CLPPI increased by 256 points whereas the Chinese Flat Products Index CFPPI improved by 237 points. The overall price index CHISPI grew by 245 points.
CLPPI - Chinese Long Product Price Index CFPPI - Chinese Flat Product Price Index CHISPI - Chinese Steel Price Index Long Products
PI - Product Index Flat Products
PI - Product Index To know more about these indices please visit http://steelprices-china.com/spi_services/spi.html 1. Long products Billets 150*150 Q235
Change is on March 19th 2010 as compared to March 12th 2010 Change is per tonne WRC 6.5mm Common
Change is on March 19th 2010 as compared to March 12th 2010 Change is per tonne Rebars 20mm HRB 400
Change is on March 19th 2010 as compared to March 12th 2010 Change is per tonne 2. Flats products HRC 4.75mm Common
Change is on March 19th 2010 as compared to March 12th 2010 Change is per tonne Plates 20mm Common
Change is on March 19th 2010 as compared to March 12th 2010 Change is per tonne CR 1.0mm Common
Change is on March 19th 2010 as compared to March 12th 2010 Change is per tonne HDG 0.5mm Common
Change is on March 19th 2010 as compared to March 12th 2010 Change is per tonne To know more details on steel prices subscribe to services of www.steelprices-china.com by registering or send a mail to admin@steelprices-china.com with contact details. Kindly note that this is a paid service with subscription charges of USD 750 for 12 months. (Sourced fromwww.steelprices-china.com) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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