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| Chinese domestic steel prices surge by 5pct in last 2 days - 08 Sep, 2010 | |||||||||||||||||||||||||||||||||||||||||||
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The news of likelihood of reduced availability of steel in Chinese market due to reduction of production at many steel plant in the Hebei Province due to power cuts by the provincial government has spread like wild fire among Chinese steel players in last 2 days since the opening of this week. Chinese steel market, which, with the steel futures at SHFE, has become unpredictable due to market forces being led by more of speculations than fundamentals, was probably looking for such a support to counter negative sentiments on Chinese government’s drive to cool the economy. The Chinese Long Product Price Index CLPPI went up by 388 points on September 7th 2010 as against week opening whereas the Chinese Flat Products Index CFPPI went up by 288 points. The overall price index CHISPI up by 310 points.
CLPPI - Chinese Long Product Price Index CFPPI - Chinese Flat Product Price Index CHISPI - Chinese Steel Price Index 5% rise in steel prices in just a matter of 2 days clearly reflects panic among the distribution chain, which wants to buy not only their current but future requirements before prices hit through the roof on reduced availability from the mills. The market movement the balance 3 days of this week will set the tone for steel price trends in coming months. www.steelprices-china.com is a comprehensive service for tracking real time domestic steel prices and trends in China on daily basis. The scope of service includes 1. Domestic pricing information in China 2. Export levels from Turkey, Rotterdam, China, India and Black Sea The service is specifically designed to assist steel makers, traders, users and others connected with the industry to keep track of real time prices prevailing in the market and thus comprehensively evaluate steel pricing trends in the trend setting region Methodology and access 1. Benchmark products in each category with fixed commonly used sizes and grades 2. Average transaction levels which have settled well, based on continuous interactions with domestic mills and traders 4. On fixed market oriented payment terms 5. Daily updates 6. Data available since July 2008 5. Access through web site Products covered 1. Input materials and semis 2. Long Products 3. Flat Products 5. FOB levels for export FOB Black Sea, China, Turkey and India Other features The prices are displayed on weekly and monthly basis. They also have search facilities to access old data from the archives. Graphical representation of trends and comparison of price movement 2 or more products is also available. In addition, you can monitor currency exchange rates, metal prices, BDI for the day as well as access their archives for past data. Other features include converters for weight, length etc, glossary and advanced search functions. The benchmark product price information is supplemented by global pricing news. Subscription charges for 12 months period
How to subscribe 1. Register at www.steelprices-china.com and pay on line or ask for invoice 2. Send mail to admin@steelprices-china.com. (Sourced from www.steelprices-china.com) | |||||||||||||||||||||||||||||||||||||||||||
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